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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) reached a new 52-week low on Friday . The stock traded as low as $28.76 and last traded at $28.81, with a volume of 5092560 shares trading hands. The stock had previously closed at $29.57.

ProShares UltraPro Short QQQ Stock Down 2.2 %

The stock has a 50 day simple moving average of $33.83 and a 200-day simple moving average of $39.50.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently declared a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were paid a dividend of $0.7475 per share. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.16. The ex-dividend date of this dividend was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Strategic Investment Solutions Inc. IL bought a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at about $29,000. International Assets Investment Management LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at approximately $41,000. Jeppson Wealth Management LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth approximately $88,000. TFB Advisors LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 3rd quarter valued at approximately $131,000. Finally, CWA Asset Management Group LLC purchased a new stake in ProShares UltraPro Short QQQ during the 3rd quarter valued at $133,000.

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.