ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 12-Month Low - Here's Why

Key Points

• ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares have reached a new 52-week low of $14.65, down 2.4% from its previous close of $15.05.
• The fund recently declared a quarterly dividend of $0.2427 per share, yielding 6.6%, with the payout made on September 30th.
• Institutional investors have shown a mix of activity, with significant new positions and increases in stakes, indicating a shift in market sentiment towards the stock.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) shares reached a new 52-week low during mid-day trading on Monday . The company traded as low as $14.65 and last traded at $14.79, with a volume of 13348679 shares changing hands. The stock had previously closed at $15.05.

ProShares UltraPro Short QQQ Stock Down 2.4%

The company has a 50 day moving average of $17.09 and a 200 day moving average of $23.91.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were given a dividend of $0.2427 per share. This represents a $0.97 annualized dividend and a dividend yield of 6.6%. The ex-dividend date of this dividend was Wednesday, September 24th.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Parallel Advisors LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the first quarter valued at $27,000. IMC Chicago LLC acquired a new stake in ProShares UltraPro Short QQQ in the 1st quarter valued at approximately $17,319,000. PayPay Securities Corp boosted its position in ProShares UltraPro Short QQQ by 85.9% during the 1st quarter. PayPay Securities Corp now owns 1,556 shares of the company's stock worth $60,000 after acquiring an additional 719 shares during the period. Robertson Stephens Wealth Management LLC bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth $2,698,000. Finally, CWA Asset Management Group LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the first quarter valued at about $357,000.

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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