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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $22.69 and last traded at $22.70, with a volume of 39420985 shares changing hands. The stock had previously closed at $23.18.

ProShares UltraPro Short QQQ Trading Down 2.4%

The business’s fifty day simple moving average is $32.55 and its 200-day simple moving average is $31.59.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a $0.4823 dividend. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 annualized dividend and a yield of 8.53%.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in SQQQ. Parallel Advisors LLC bought a new position in ProShares UltraPro Short QQQ in the 1st quarter worth about $27,000. Redwood Park Advisors LLC raised its holdings in shares of ProShares UltraPro Short QQQ by 69.3% in the 1st quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock valued at $34,000 after acquiring an additional 363 shares in the last quarter. PayPay Securities Corp raised its holdings in shares of ProShares UltraPro Short QQQ by 85.9% in the 1st quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock valued at $60,000 after acquiring an additional 719 shares in the last quarter. Game Plan Financial Advisors LLC raised its holdings in shares of 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 valued at $71,000 after acquiring an additional 1,850 shares in the last quarter. Finally, Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of ProShares UltraPro Short QQQ in the 1st quarter valued at about $100,000.

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.