ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 52-Week Low – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) reached a new 52-week low on Friday . The stock traded as low as $6.90 and last traded at $6.92, with a volume of 47568295 shares trading hands. The stock had previously closed at $7.24.

ProShares UltraPro Short QQQ Trading Down 4.3 %

The stock has a fifty day moving average price of $7.91 and a 200-day moving average price of $9.00.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 2nd. Shareholders 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 Investors Weigh In On ProShares UltraPro Short QQQ

Large investors have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL acquired a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at $29,000. International Assets Investment Management LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the second quarter worth about $41,000. Whittier Trust Co. of Nevada Inc. lifted its stake in shares of ProShares UltraPro Short QQQ by 438.7% during the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,080 shares of the company’s stock worth $85,000 after purchasing an additional 6,580 shares in the last quarter. Jeppson Wealth Management LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the second quarter worth about $88,000. Finally, Camarda Financial Advisors LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at about $107,000.

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.