ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 1-Year Low – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low on Thursday . The company traded as low as $7.11 and last traded at $7.16, with a volume of 100313242 shares changing hands. The stock had previously closed at $7.17.

ProShares UltraPro Short QQQ Price Performance

The company has a fifty day simple moving average of $8.36 and a two-hundred day simple moving average of $9.21.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 25th were issued a dividend of $0.1495 per share. The ex-dividend date of this dividend was Wednesday, September 25th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently modified their holdings of the business. Strategic Investment Solutions Inc. IL bought a new position in ProShares UltraPro Short QQQ in the second quarter worth approximately $29,000. Game Plan Financial Advisors LLC grew its stake in ProShares UltraPro Short QQQ by 450.5% in the first quarter. Game Plan Financial Advisors LLC now owns 3,055 shares of the company’s stock valued at $32,000 after purchasing an additional 2,500 shares during the last quarter. International Assets Investment Management LLC bought a new position in ProShares UltraPro Short QQQ in the second quarter worth about $41,000. Whittier Trust Co. of Nevada Inc. raised its holdings in ProShares UltraPro Short QQQ by 438.7% in the first quarter. Whittier Trust Co. of Nevada Inc. now owns 8,080 shares of the company’s stock worth $85,000 after purchasing an additional 6,580 shares in the last quarter. Finally, Jeppson Wealth Management LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the second quarter valued at about $88,000.

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.