ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Up 6.1% – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price were up 6.1% during mid-day trading on Wednesday . The company traded as high as $30.05 and last traded at $29.77. Approximately 48,387,541 shares changed hands during trading, an increase of 60% from the average daily volume of 30,332,127 shares. The stock had previously closed at $28.07.

ProShares UltraPro Short QQQ Trading Up 10.8 %

The stock’s 50-day simple moving average is $33.44 and its 200-day simple moving average is $39.12.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th were issued a dividend of $0.7475 per share. The ex-dividend date was Wednesday, September 25th. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.16.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently bought and sold shares of SQQQ. Strategic Investment Solutions Inc. IL bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $29,000. International Assets Investment Management LLC bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $41,000. Jeppson Wealth Management LLC bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $88,000. TFB Advisors LLC bought a new position in ProShares UltraPro Short QQQ during the 3rd quarter valued at about $131,000. Finally, CWA Asset Management Group LLC bought a new position in ProShares UltraPro Short QQQ during the 3rd quarter valued at about $133,000.

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.