ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 6% – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) rose 6% on Friday . The stock traded as high as $28.20 and last traded at $28.36. Approximately 50,351,911 shares traded hands during mid-day trading, a decline of 5% from the average daily volume of 52,799,863 shares. The stock had previously closed at $26.76.

ProShares UltraPro Short QQQ Price Performance

The company has a fifty day simple moving average of $29.08 and a two-hundred day simple moving average of $34.60.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently disclosed a dividend, which was paid on Tuesday, December 31st. Investors of record on Monday, December 23rd were paid a dividend of $0.8168 per share. This is a boost from ProShares UltraPro Short QQQ’s previous dividend of $0.75. The ex-dividend date was Monday, December 23rd.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently made changes to their positions in the stock. Capital Investment Advisory Services LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $2,374,000. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $439,000. Compagnie Lombard Odier SCmA lifted its stake in shares of ProShares UltraPro Short QQQ by 3,357.5% during the 4th quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock worth $517,000 after purchasing an additional 16,116 shares during the last quarter. Ridgepath Capital Management LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 761.2% during the 4th quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock worth $3,218,000 after purchasing an additional 91,348 shares during the last quarter. Finally, Foundations Investment Advisors LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $360,000.

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.