ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 5.1% - What's Next?

The stock price of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) experienced a decline of 5.1% during the trading session on Tuesday. It reached a low of $29.02 before closing at $28.85. The trading volume was approximately 42,141,544 shares, which is a 21% drop from the average daily volume of 53,335,797 shares. The prior closing price for the stock was $30.40.

ProShares UltraPro Short QQQ Price Performance

The current 50-day moving average for the stock is $30.46, while the 200-day moving average stands at $36.68. These averages are important indicators of the stock's long-term performance.

ProShares UltraPro Short QQQ Increases Dividend

Recently, ProShares UltraPro Short QQQ announced a dividend increase. The dividend, amounting to $0.8168, was paid out on Tuesday, December 31. Shareholders who were on record as of Monday, December 23, received this dividend, which is higher than the previous amount of $0.75. The ex-dividend date was also set for December 23.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

There has been notable activity among institutional investors regarding ProShares UltraPro Short QQQ. For example, Strategic Investment Solutions Inc. from Illinois purchased a new stake in the fund during the second quarter for an amount of $29,000. Similarly, Peoples Bank from Kansas invested approximately $62,000 in the fourth quarter. Other institutions, such as TFB Advisors LLC and CWA Asset Management Group LLC, also acquired new positions, demonstrating renewed interest in the fund's stock.

ProShares UltraPro Short QQQ Company Profile

ProShares UltraPro Short QQQ aims to achieve daily investment results that are three times the inverse of the daily performance of the NASDAQ-100 Index, which includes 100 prominent non-financial domestic and international companies listed on the NASDAQ Stock Market.

Should You Invest $1,000 in ProShares UltraPro Short QQQ Right Now?

Before making any investment decisions regarding ProShares UltraPro Short QQQ, it's crucial to pay attention to the current market sentiment. Analysts currently rate the fund as a "Hold," with some highlighting that there may be better investment opportunities available.

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