ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 12-Month Low – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares reached a new 52-week low during trading on Friday . The company traded as low as $28.76 and last traded at $28.81, with a volume of 5092560 shares. The stock had previously closed at $29.57.

ProShares UltraPro Short QQQ Trading Down 2.2 %

The stock has a 50-day moving average price of $33.99 and a 200 day moving average price of $39.68.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently announced a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were given a dividend of $0.7475 per share. The ex-dividend date of this dividend was Wednesday, September 25th. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors have recently added to or reduced their stakes in the stock. Strategic Investment Solutions Inc. IL acquired a new position in ProShares UltraPro Short QQQ in the 2nd quarter valued at about $29,000. International Assets Investment Management LLC acquired a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $41,000. Jeppson Wealth Management LLC acquired a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $88,000. TFB Advisors LLC acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $131,000. Finally, CWA Asset Management Group LLC acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $133,000.

About ProShares UltraPro Short QQQ

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.