ProShares UltraPro Short QQQ Stock Scheduled to Reverse Split on Thursday, November 20th (NASDAQ:SQQQ)

Key Points

• Shares of ProShares UltraPro Short QQQ (SQQQ) will undergo a 1-for-5 reverse split, with shareholder balances adjusted after the close on Wednesday, Nov. 19 and the split effective Thursday, Nov. 20.
• The fund seeks daily investment results equal to three times the inverse of the NASDAQ‑100, making it a leveraged inverse ETF intended primarily for short‑term trading.
• ProShares paid a quarterly dividend of $0.2427 on Sept. 30 (annualized $0.97), which corresponds to an approximate yield of 6.7%.

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) are going to reverse split on Thursday, November 20th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 19th.

ProShares UltraPro Short QQQ Trading Up 1.1%

Shares of SQQQ opened at $14.43 on Friday. ProShares UltraPro Short QQQ has a one year low of $12.68 and a one year high of $57.80. The company's fifty day moving average price is $15.27 and its 200 day moving average price is $19.66.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Shareholders of record on Wednesday, September 24th were given a $0.2427 dividend. This represents a $0.97 annualized dividend and a yield of 6.7%. The ex-dividend date was Wednesday, September 24th.

Institutional Inflows and Outflows

A number of institutional investors have recently modified their holdings of the stock. Redwood Park Advisors LLC raised 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 buying an additional 363 shares during the last quarter. MAI Capital Management bought a new position in ProShares UltraPro Short QQQ in the 2nd quarter valued at about $38,000. Osaic Holdings Inc. boosted its stake in ProShares UltraPro Short QQQ by 47.2% during 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 last quarter. PayPay Securities Corp increased its holdings in ProShares UltraPro Short QQQ by 100.8% during the 2nd quarter. PayPay Securities Corp now owns 3,124 shares of the company's stock worth $61,000 after purchasing an additional 1,568 shares in the last quarter. Finally, Gables Capital Management Inc. increased its holdings in ProShares UltraPro Short QQQ by 600.0% during the 2nd quarter. Gables Capital Management Inc. now owns 3,500 shares of the company's stock worth $68,000 after purchasing an additional 3,000 shares in the last quarter.

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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