ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 4.5% – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 4.5% during trading on Monday . The company traded as low as $29.34 and last traded at $29.38. Approximately 18,736,444 shares changed hands during mid-day trading, a decline of 39% from the average daily volume of 30,856,594 shares. The stock had previously closed at $30.75.

ProShares UltraPro Short QQQ Stock Down 4.0 %

The company has a 50 day simple moving average of $32.87 and a two-hundred day simple moving average of $38.50.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be issued a $0.8168 dividend. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date is Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in the company. World Investment Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 51.0% during the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after buying an additional 9,463 shares during the last quarter. Barclays PLC boosted its position in shares of ProShares UltraPro Short QQQ by 157.8% during the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after acquiring an additional 124,500 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the third quarter valued at $1,848,000. RBF Capital LLC increased its position in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after purchasing an additional 1,166,014 shares during the last quarter. Finally, Horizon Kinetics Asset Management LLC raised its stake in ProShares UltraPro Short QQQ by 6.2% during the third quarter. Horizon Kinetics Asset Management LLC now owns 65,719 shares of the company’s stock valued at $486,000 after purchasing an additional 3,822 shares in the last quarter.

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.