ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Unusually-High Trading Volume – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares saw strong trading volume on Friday . 45,819,210 shares were traded during trading, an increase of 8% from the previous session’s volume of 42,384,560 shares.The stock last traded at $46.40 and had previously closed at $42.53.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50-day moving average of $32.39 and a 200 day moving average of $33.03.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a dividend of $0.4823 per share. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 dividend on an annualized basis and a yield of 3.93%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors have recently modified their holdings of the stock. RBF Capital LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after buying an additional 1,166,014 shares during the last quarter. Sollinda Capital Management LLC purchased a new stake in ProShares UltraPro Short QQQ in the 4th quarter worth approximately $13,933,000. Kovitz Investment Group Partners LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $1,848,000. Squarepoint Ops LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at approximately $7,334,000. Finally, Barclays PLC lifted its stake in shares of ProShares UltraPro Short QQQ by 157.8% in the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after purchasing an additional 124,500 shares during the period.

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.