ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 1-Year Low – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price hit a new 52-week low during trading on Tuesday . The stock traded as low as $23.26 and last traded at $23.34, with a volume of 122327067 shares changing hands. The stock had previously closed at $23.38.

ProShares UltraPro Short QQQ Trading Up 4.1%

The firm has a 50-day simple moving average of $34.41 and a 200 day simple moving average of $32.13.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were given a dividend of $0.4823 per share. This represents a $1.93 annualized dividend and a yield of 7.86%. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Redwood Park Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 69.3% during the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock valued at $34,000 after buying an additional 363 shares during the period. Parallel Advisors LLC purchased a new position in ProShares UltraPro Short QQQ during the first quarter valued at $27,000. PayPay Securities Corp lifted its position in ProShares UltraPro Short QQQ by 85.9% during the first quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock valued at $60,000 after buying an additional 719 shares during the period. Centerpoint Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Game Plan Financial Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 16,818.2% in the 1st quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock worth $71,000 after purchasing an additional 1,850 shares in 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.