ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Large Decline in Short Interest

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report) was the recipient of a significant decline in short interest during the month of January. As of January 15th, there was short interest totalling 42,920,000 shares, a decline of 13.8% from the December 31st total of 49,820,000 shares. Based on an average daily trading volume, of 123,964,700 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. Gables Capital Management Inc. acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at $28,000. Spire Wealth Management lifted its holdings in ProShares UltraPro Short QQQ by 86.7% in the third quarter. Spire Wealth Management now owns 1,867 shares of the company's stock valued at $38,000 after buying an additional 867 shares during the period. Hoey Investments Inc. lifted its holdings in ProShares UltraPro Short QQQ by 100.0% in the third quarter. Hoey Investments Inc. now owns 2,000 shares of the company's stock valued at $41,000 after buying an additional 1,000 shares during the period. Peoples Bank KS acquired a new position in ProShares UltraPro Short QQQ in the fourth quarter valued at $54,000. Finally, Nelson Van Denburg & Campbell Wealth Management Group LLC acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at $57,000.

ProShares UltraPro Short QQQ Stock Performance

Shares of NASDAQ SQQQ traded up $0.22 during midday trading on Friday, reaching $12.19. 113,060,464 shares of the company were exchanged, compared to its average volume of 130,390,383. The stock's 50-day moving average price is $14.30 and its 200-day moving average price is $17.33. ProShares UltraPro Short QQQ has a one year low of $11.65 and a one year high of $42.57.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, December 28th. Shareholders of record on Thursday, December 21st were paid a dividend of $0.283 per share. The ex-dividend date of this dividend was Wednesday, December 20th. This represents a $1.13 dividend on an annualized basis and a dividend yield of 9.29%.

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.

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