ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 6% – Still a Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares rose 6% on Friday . The company traded as high as $28.20 and last traded at $28.36. Approximately 50,351,911 shares were traded during mid-day trading, a decline of 5% from the average daily volume of 52,799,863 shares. The stock had previously closed at $26.76.

ProShares UltraPro Short QQQ Price Performance

The business’s fifty day simple moving average is $29.09 and its two-hundred day simple moving average is $34.90.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were issued a $0.8168 dividend. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date was Monday, December 23rd.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. SG Americas Securities LLC increased its stake in shares of ProShares UltraPro Short QQQ by 25.5% during the third 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. Creative Planning increased its stake in shares of ProShares UltraPro Short QQQ by 150.1% during the third quarter. Creative Planning now owns 115,582 shares of the company’s stock worth $854,000 after purchasing an additional 69,363 shares in the last quarter. Venture Visionary Partners LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth about $144,000. Global Assets Advisory LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth about $548,000. Finally, Custom Index Systems LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth about $153,000.

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.