ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 52-Week Low at $7.86

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares hit a new 52-week low on Friday . The company traded as low as $7.86 and last traded at $7.94, with a volume of 52786152 shares trading hands. The stock had previously closed at $8.13.

ProShares UltraPro Short QQQ Stock Performance

The business’s 50 day simple moving average is $9.88 and its two-hundred day simple moving average is $11.25.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, July 3rd. Shareholders of record on Wednesday, June 26th will be paid a dividend of $0.1605 per share. The ex-dividend date is Wednesday, June 26th. This represents a $0.64 dividend on an annualized basis and a yield of 7.75%.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently added to or reduced their stakes in SQQQ. Annis Gardner Whiting Capital Advisors LLC increased its stake in shares of ProShares UltraPro Short QQQ by 140.8% in the 4th quarter. Annis Gardner Whiting Capital Advisors LLC now owns 2,201 shares of the company’s stock worth $30,000 after purchasing an additional 1,287 shares in the last quarter. PNC Financial Services Group Inc. increased its stake in shares of ProShares UltraPro Short QQQ by 11.9% in the 3rd quarter. PNC Financial Services Group Inc. now owns 14,123 shares of the company’s stock worth $289,000 after purchasing an additional 1,500 shares in the last quarter. Larson Financial Group LLC increased its stake in shares of ProShares UltraPro Short QQQ by 369.2% in the 4th quarter. Larson Financial Group LLC now owns 2,116 shares of the company’s stock worth $28,000 after purchasing an additional 1,665 shares in the last quarter. VitalStone Financial LLC increased its stake in shares of ProShares UltraPro Short QQQ by 64.6% in the 3rd quarter. VitalStone Financial LLC now owns 5,225 shares of the company’s stock worth $107,000 after purchasing an additional 2,050 shares in the last quarter. Finally, Game Plan Financial Advisors LLC increased its stake in shares of 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 purchasing an additional 2,500 shares in the last quarter.

ProShares UltraPro Short QQQ Company Profile

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.