Short Interest in ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Increases By 19.5%

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totalling 63,070,000 shares, an increase of 19.5% from the September 30th total of 52,800,000 shares. Based on an average daily volume of 170,074,800 shares, the short-interest ratio is presently 0.4 days.

ProShares UltraPro Short QQQ Trading Down 2.7 %

Shares of SQQQ stock opened at $6.92 on Wednesday. ProShares UltraPro Short QQQ has a 12 month low of $6.85 and a 12 month high of $22.56. The business’s 50 day moving average is $7.85 and its two-hundred day moving average is $8.90.

ProShares UltraPro Short QQQ shares are going to reverse split before the market opens on Thursday, November 7th. The 1-5 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 6th.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.1495 per share. The ex-dividend date was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC grew its holdings in ProShares UltraPro Short QQQ by 40.6% during the third quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after purchasing an additional 1,119,452 shares during the last quarter. Galibier Capital Management Ltd. boosted its position in shares of ProShares UltraPro Short QQQ by 25.1% in the third quarter. Galibier Capital Management Ltd. now owns 54,400 shares of the company’s stock valued at $402,000 after acquiring an additional 10,900 shares during the period. Custom Index Systems LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the third quarter valued at approximately $153,000. Global Assets Advisory LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the third quarter valued at approximately $548,000. Finally, Venture Visionary Partners LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the third quarter valued at approximately $144,000.

ProShares UltraPro Short QQQ Company Profile

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market.