ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading 5.5% Higher – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price rose 5.5% during mid-day trading on Friday . The company traded as high as $32.42 and last traded at $32.03. Approximately 25,202,213 shares were traded during trading, a decline of 50% from the average daily volume of 49,976,945 shares. The stock had previously closed at $30.35.

ProShares UltraPro Short QQQ Trading Up 6.5 %

The firm has a 50-day moving average of $31.41 and a 200 day moving average of $37.51.

ProShares UltraPro Short QQQ Increases Dividend

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

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors have recently made changes to their positions in the business. IMC Chicago LLC raised its position in shares of ProShares UltraPro Short QQQ by 40.6% during the 3rd 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 period. RBF Capital LLC raised its stake in ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after purchasing an additional 1,166,014 shares during the period. Smithfield Trust Co raised its position in shares of ProShares UltraPro Short QQQ by 138.8% during the third quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after buying an additional 444,000 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in ProShares UltraPro Short QQQ during the third quarter valued at $1,848,000. Finally, Barclays PLC boosted its holdings 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 purchasing an additional 124,500 shares during 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.