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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $6.80 and last traded at $6.81, with a volume of 23588336 shares trading hands. The stock had previously closed at $7.23.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50 day moving average price of $7.78 and a 200 day moving average price of $8.74.

ProShares UltraPro Short QQQ’s stock is set to reverse split on Thursday, November 7th. The 1-5 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 6th.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were given a $0.1495 dividend. The ex-dividend date was Wednesday, September 25th.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently bought and sold shares of the stock. Strategic Investment Solutions Inc. IL acquired a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth $29,000. SG Americas Securities LLC raised its stake in ProShares UltraPro Short QQQ by 25.5% in the 3rd quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after purchasing an additional 3,679 shares in the last quarter. Cedar Wealth Management LLC boosted its holdings in ProShares UltraPro Short QQQ by 17.1% in the 1st quarter. Cedar Wealth Management LLC now owns 28,374 shares of the company’s stock valued at $297,000 after purchasing an additional 4,142 shares during the period. PCG Wealth Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 34.6% during the 2nd quarter. PCG Wealth Advisors LLC now owns 17,500 shares of the company’s stock worth $145,000 after purchasing an additional 4,500 shares in the last quarter. Finally, International Assets Investment Management LLC bought a new position in shares of ProShares UltraPro Short QQQ during the second quarter worth approximately $41,000.

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.