ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 1-Year Low - What's Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report) hit a new 52-week low during trading on Wednesday . The stock traded as low as $23.08 and last traded at $23.43, with a volume of 18223219 shares trading hands. The stock had previously closed at $23.40.

ProShares UltraPro Short QQQ Trading Up 0.2%

The firm has a fifty day simple moving average of $33.43 and a 200 day simple moving average of $31.85.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were issued a dividend of $0.4823 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $1.93 annualized dividend and a yield of 8.23%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter worth $27,000. Redwood Park Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 69.3% in the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company's stock worth $34,000 after purchasing an additional 363 shares during the period. PayPay Securities Corp lifted its position in ProShares UltraPro Short QQQ by 85.9% in the first quarter. PayPay Securities Corp now owns 1,556 shares of the company's stock worth $60,000 after purchasing an additional 719 shares during the period. Game Plan Financial Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 16,818.2% in the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company's stock worth $71,000 after purchasing an additional 1,850 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new position in ProShares UltraPro Short QQQ in the first quarter worth $100,000.

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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