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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price reached a new 52-week low during trading on Wednesday . The stock traded as low as $61.61 and last traded at $61.5220, with a volume of 10463229 shares traded. The stock had previously closed at $62.02.

ProShares UltraPro Short QQQ Trading Down 1.5%

The firm’s 50-day moving average is $73.31 and its 200 day moving average is $70.89.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were issued a dividend of $0.6384 per share. The ex-dividend date was Wednesday, March 25th. This represents a $2.55 annualized dividend and a yield of 4.2%.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in SQQQ. Quadrature Capital Ltd bought a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $33,368,000. TB Alternative Assets Ltd. bought a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $8,394,000. Smithfield Trust Co raised its holdings in ProShares UltraPro Short QQQ by 330.6% during the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after purchasing an additional 429,640 shares during the last quarter. Flow Traders U.S. LLC raised its holdings in ProShares UltraPro Short QQQ by 168.5% during the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock worth $10,241,000 after purchasing an additional 421,972 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in ProShares UltraPro Short QQQ by 291.5% during the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock worth $8,512,000 after purchasing an additional 416,119 shares during 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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.