ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Significant Decrease in Short Interest

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the recipient of a significant drop in short interest in the month of March. As of March 15th, there was short interest totalling 11,820,000 shares, a drop of 28.7% from the February 28th total of 16,570,000 shares. Currently, 17.4% of the shares of the company are short sold. Based on an average daily trading volume, of 64,990,000 shares, the days-to-cover ratio is presently 0.2 days.

ProShares UltraPro Short QQQ Trading Up 3.1 %

ProShares UltraPro Short QQQ stock traded up $1.17 during midday trading on Monday, hitting $39.47. The stock had a trading volume of 64,432,361 shares, compared to its average volume of 40,986,025. ProShares UltraPro Short QQQ has a 52-week low of $26.21 and a 52-week high of $64.95. The firm’s fifty day moving average is $31.55 and its two-hundred day moving average is $32.98.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be given a dividend of $0.4823 per share. The ex-dividend date of this dividend is Wednesday, March 26th. This represents a $1.93 annualized dividend and a dividend yield of 4.89%.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Institutional investors have recently bought and sold shares of the business. Peoples Bank KS purchased a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth about $62,000. Centerpoint Advisors LLC grew its holdings in ProShares UltraPro Short QQQ by 20.0% during the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after buying an additional 1,000 shares in the last quarter. Foundations Investment Advisors LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter valued at approximately $360,000. SBI Securities Co. Ltd. bought a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth $423,000. Finally, Mirae Asset Global Investments Co. Ltd. bought a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth $439,000.

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.