ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 8.3% – Should You Buy?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were up 8.3% on Monday . The stock traded as high as $37.23 and last traded at $37.32. Approximately 16,968,286 shares traded hands during trading, a decline of 73% from the average daily volume of 62,271,230 shares. The stock had previously closed at $34.47.

ProShares UltraPro Short QQQ Price Performance

The stock has a fifty day simple moving average of $29.74 and a 200-day simple moving average of $33.67.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.8168 per share. The ex-dividend date was Monday, December 23rd. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Capital Investment Advisory Services LLC acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter worth about $2,374,000. Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at about $439,000. Compagnie Lombard Odier SCmA grew its holdings in shares of ProShares UltraPro Short QQQ by 3,357.5% in the fourth quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock valued at $517,000 after purchasing an additional 16,116 shares during the period. Ridgepath Capital Management LLC grew its holdings in shares of ProShares UltraPro Short QQQ by 761.2% in the fourth quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock valued at $3,218,000 after purchasing an additional 91,348 shares during the period. Finally, SBI Securities Co. Ltd. purchased a new position in ProShares UltraPro Short QQQ during the fourth quarter worth about $423,000.

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.