ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 6% – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) rose 6% during mid-day trading on Friday . The stock traded as high as $28.20 and last traded at $28.36. Approximately 50,351,911 shares changed 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’s 50 day simple moving average is $29.09 and its 200-day simple moving average is $34.90.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors have recently added to or reduced their stakes in the company. Peoples Bank KS purchased a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $62,000. TFB Advisors LLC acquired a new stake in ProShares UltraPro Short QQQ in the third quarter valued at approximately $131,000. CWA Asset Management Group LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth $133,000. SG Americas Securities LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 25.5% during the third quarter. SG Americas Securities LLC now owns 18,090 shares of the company’s stock worth $134,000 after buying an additional 3,679 shares during the period. Finally, Venture Visionary Partners LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth $144,000.

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.