ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 3.9% - Here's What Happened

Key Points

• ProShares UltraPro Short QQQ (NASDAQ:SQQQ) has seen a **3.9% decline** in its stock price, trading at $14.71 after reaching a low of $14.83 during mid-day trading.
• The fund recently **cut its dividend** to $0.2427 per share, representing an annualized yield of **6.5%** and reflecting the ongoing repositioning of the business.
• Significant **inflows from institutional investors** were observed, with Redwood Park Advisors increasing its holdings by **69.3%** and Game Plan Financial Advisors witnessing a remarkable boost of **16,818.2%** in the first quarter.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) fell 3.9% during mid-day trading on Wednesday . The company traded as low as $14.83 and last traded at $14.71. 27,808,570 shares were traded during trading, a decline of 71% from the average session volume of 96,420,563 shares. The stock had previously closed at $15.31.

ProShares UltraPro Short QQQ Stock Performance

The company's 50 day simple moving average is $16.60 and its two-hundred day simple moving average is $23.00.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were paid a dividend of $0.2427 per share. The ex-dividend date of this dividend was Wednesday, September 24th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 6.5%.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of SQQQ. Redwood Park Advisors LLC grew its holdings in ProShares UltraPro Short QQQ by 69.3% during the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company's stock worth $34,000 after acquiring an additional 363 shares during the period. Game Plan Financial Advisors LLC boosted its position in shares of ProShares UltraPro Short QQQ by 16,818.2% in the 1st quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company's stock valued at $71,000 after purchasing an additional 1,850 shares during the period. MAI Capital Management acquired a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $38,000. Osaic Holdings Inc. boosted its position in shares of ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company's stock valued at $42,000 after purchasing an additional 696 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank acquired a new position in shares of ProShares UltraPro Short QQQ in the 1st quarter valued at $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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