ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 12-Month Low – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQGet Free Report)’s stock price reached a new 52-week low during mid-day trading on Thursday . The stock traded as low as $7.11 and last traded at $7.16, with a volume of 100313242 shares trading hands. The stock had previously closed at $7.17.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50-day moving average of $8.46 and a 200 day moving average of $9.25.

ProShares UltraPro Short QQQ Cuts Dividend

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

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of SQQQ. Game Plan Financial Advisors LLC grew its stake in ProShares UltraPro Short QQQ by 450.5% in the 1st quarter. Game Plan Financial Advisors LLC now owns 3,055 shares of the company’s stock worth $32,000 after buying an additional 2,500 shares in the last quarter. Strategic Investment Solutions Inc. IL purchased a new position in ProShares UltraPro Short QQQ in the second quarter worth $29,000. SG Americas Securities LLC grew its position in ProShares UltraPro Short QQQ by 25.5% in the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after acquiring an additional 3,679 shares in the last quarter. Cedar Wealth Management LLC increased its stake in ProShares UltraPro Short QQQ by 17.1% in the first quarter. Cedar Wealth Management LLC now owns 28,374 shares of the company’s stock valued at $297,000 after acquiring an additional 4,142 shares during the last quarter. Finally, PCG Wealth Advisors LLC raised its position in ProShares UltraPro Short QQQ by 34.6% during the second quarter. PCG Wealth Advisors LLC now owns 17,500 shares of the company’s stock valued at $145,000 after purchasing an additional 4,500 shares in the last quarter.

About ProShares UltraPro Short QQQ

(Get Free Report)

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.

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