ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 52-Week Low - Time to Sell?

Key Points

• ProShares UltraPro Short QQQ (NASDAQ:SQQQ) has reached a new 52-week low of $18.05, trading down from a previous close of $18.25.
• The fund recently declared a quarterly dividend of $0.2566 per share, representing an annualized yield of 5.67%.
• Institutional investors have shown interest, with multiple firms acquiring new stakes in ProShares UltraPro Short QQQ in the last quarter, indicating potential confidence in the stock's future.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - )'s stock price reached a new 52-week low during mid-day trading on Monday . The company traded as low as $18.07 and last traded at $18.05, with a volume of 8218248 shares changing hands. The stock had previously closed at $18.25.

ProShares UltraPro Short QQQ Stock Down 0.8%

The business has a 50 day simple moving average of $21.26 and a 200-day simple moving average of $28.78.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were given a dividend of $0.2566 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $1.03 annualized dividend and a yield of 5.67%.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Headlands Technologies LLC acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $2,922,000. DRW Securities LLC acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $3,155,000. Raffles Associates LP acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $623,000. Robertson Stephens Wealth Management LLC acquired a new position in ProShares UltraPro Short QQQ in the 1st quarter valued at $2,698,000. Finally, Canal Insurance CO acquired a new position in ProShares UltraPro Short QQQ in the 1st quarter valued at $1,917,000.

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.

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