ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 52-Week Low at $7.12

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report) hit a new 52-week low on Thursday . The stock traded as low as $7.12 and last traded at $7.12, with a volume of 14053527 shares trading hands. The stock had previously closed at $7.47.

Get SQQQ alerts:

ProShares UltraPro Short QQQ Trading Down 2.0 %

The company has a 50 day moving average price of $8.69 and a 200 day moving average price of $9.46.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a dividend, which will be paid on Wednesday, October 2nd. Stockholders of record on Wednesday, September 25th will be issued a $0.1495 dividend. The ex-dividend date of this dividend is Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQQQ. Jane Street Group LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 378.6% in the 1st quarter. Jane Street Group LLC now owns 1,947,014 shares of the company's stock valued at $20,405,000 after purchasing an additional 1,540,169 shares in the last quarter. IMC Chicago LLC increased its stake in ProShares UltraPro Short QQQ by 113.4% in the 2nd quarter. IMC Chicago LLC now owns 2,755,806 shares of the company's stock valued at $22,818,000 after purchasing an additional 1,464,325 shares in the last quarter. Simplex Trading LLC raised its holdings in ProShares UltraPro Short QQQ by 132.0% during the first quarter. Simplex Trading LLC now owns 833,229 shares of the company's stock worth $8,732,000 after purchasing an additional 474,067 shares during the last quarter. DRW Securities LLC purchased a new stake in ProShares UltraPro Short QQQ during the second quarter worth $1,481,000. Finally, Tower Research Capital LLC TRC increased its position in shares of ProShares UltraPro Short QQQ by 318.1% in the fourth quarter. Tower Research Capital LLC TRC now owns 229,110 shares of the company's stock valued at $3,082,000 after buying an additional 174,314 shares in the last quarter.

Ad Prosperity Research

What I believe the Bible says about investing..

Greed leads to lying, cheating and stealing to fill an endless appetite for more. And as my friend and trusted wealth expert, Charles Mizrahi says, “Greed also leads one to take on risky investments in their portfolios.” But there’s another type of financial sin that’s even more dangerous, and more common than greed… Are you committing it right now without even knowing you’re doing it?

Click here for the video.

About ProShares UltraPro Short QQQ

(Get Free Report)

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.

Should you invest $1,000 in ProShares UltraPro Short QQQ right now?

Before you consider ProShares UltraPro Short QQQ, you'll want to hear this.

MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and ProShares UltraPro Short QQQ wasn't on the list.

While ProShares UltraPro Short QQQ currently has a "hold" rating among analysts, top-rated analysts believe these five stocks are better buys.

View The Five Stocks Here