ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Up 5.5% - Should You Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Get Free Report)'s stock price shot up 5.5% during trading on Friday . The company traded as high as $32.42 and last traded at $32.03. 25,202,213 shares were traded during mid-day trading, a decline of 50% from the average session volume of 49,976,945 shares. The stock had previously closed at $30.35.

ProShares UltraPro Short QQQ Stock Up 4.9 %

The company's fifty day moving average price is $31.41 and its 200-day moving average price is $37.51.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were given a dividend of $0.8168 per share. This is an increase 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

Several large investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC grew its position in shares of ProShares UltraPro Short QQQ by 40.6% in the 3rd quarter. IMC Chicago LLC now owns 3,875,258 shares of the company's stock worth $28,638,000 after buying an additional 1,119,452 shares during the last quarter. RBF Capital LLC increased its stake in ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company's stock valued at $12,352,000 after purchasing an additional 1,166,014 shares in the last quarter. Smithfield Trust Co lifted its stake in shares of ProShares UltraPro Short QQQ by 138.8% during the third quarter. Smithfield Trust Co now owns 764,000 shares of the company's stock worth $5,645,000 after buying an additional 444,000 shares during the period. Kovitz Investment Group Partners LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the third quarter valued at $1,848,000. Finally, Barclays PLC increased its position in shares of ProShares UltraPro Short QQQ by 157.8% in the 3rd quarter. Barclays PLC now owns 203,395 shares of the company's stock valued at $1,503,000 after acquiring an additional 124,500 shares during the period.

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.