ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 5.1% - What's Next?
The stock price of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) declined by 5.1% during trading on Tuesday, with shares hitting a low of $29.02 before recovering slightly to a last trade of $28.85. Throughout the day, approximately 42,141,544 shares changed hands, indicating a notable decrease of 21% compared to its average trading volume of 53,335,797 shares. This decline follows a closing price of $30.40 from the previous session.
ProShares UltraPro Short QQQ Price Performance
The company’s 50-day moving average stands at $30.46, while the two-hundred-day moving average is much higher at $36.68. Such averages indicate the stock's overall trend over short and long-term periods, suggesting a significant drop in price.
ProShares UltraPro Short QQQ Increases Dividend
In addition to its stock performance, ProShares UltraPro Short QQQ recently announced a dividend payment. On December 31, shareholders of record as of December 23 received a dividend of $0.8168, which is an increase from the prior dividend of $0.75. The ex-dividend date for this payment was December 23.
Institutional Investors Weigh In On ProShares UltraPro Short QQQ
Several institutional investors have adjusted their positions in ProShares UltraPro Short QQQ. For instance, Strategic Investment Solutions Inc. initiated a new stake in the second quarter valued at $29,000. Other new positions include Peoples Bank KS with about $62,000, TFB Advisors LLC which invested around $131,000, and CWA Asset Management Group LLC with an investment of approximately $133,000. SG Americas Securities LLC also increased its holdings by 25.5%, now owning 18,090 shares worth $134,000 after purchasing additional shares in the last quarter.
ProShares UltraPro Short QQQ Company Profile
ProShares UltraPro Short QQQ aims to provide investment results that reflect three times the inverse of the daily performance of the NASDAQ-100 Index. This index comprises 100 prominent non-financial domestic and international stocks traded on the NASDAQ.
Should You Invest in ProShares UltraPro Short QQQ Right Now?
Before considering an investment in ProShares UltraPro Short QQQ, it is essential to examine market insights. Currently, analysts maintain a "Hold" rating for SQQQ, but there are alternative stocks that may be better investment options. Investors are advised to conduct thorough analysis and consider recommendations from leading analysts in the field to make informed decisions.
ProShares, NASDAQ, Dividend