ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Significant Drop in Short Interest
by Sarita Garza · The Markets DailyProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) saw a large drop in short interest during the month of February. As of February 13th, there was short interest totaling 5,436,923 shares, a drop of 14.1% from the January 29th total of 6,325,904 shares. Approximately 16.3% of the company’s shares are short sold. Based on an average daily volume of 60,298,081 shares, the days-to-cover ratio is currently 0.1 days. Based on an average daily volume of 60,298,081 shares, the days-to-cover ratio is currently 0.1 days. Approximately 16.3% of the company’s shares are short sold.
Institutional Investors Weigh In On ProShares UltraPro Short QQQ
A number of institutional investors have recently made changes to their positions in SQQQ. Sunbelt Securities Inc. bought a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at about $137,000. Hamilton Wealth LLC grew its position in shares of ProShares UltraPro Short QQQ by 1,087.5% during the 4th quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock worth $8,135,000 after buying an additional 108,754 shares during the period. Axxcess Wealth Management LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at about $1,322,000. Corient Private Wealth LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at approximately $431,000. Finally, Tower Research Capital LLC TRC raised its position in shares of ProShares UltraPro Short QQQ by 1,636.9% in the 4th quarter. Tower Research Capital LLC TRC now owns 41,217 shares of the company’s stock valued at $2,823,000 after acquiring an additional 38,844 shares during the period.
ProShares UltraPro Short QQQ Price Performance
SQQQ opened at $71.68 on Wednesday. The firm has a 50 day simple moving average of $68.19 and a 200 day simple moving average of $73.07. ProShares UltraPro Short QQQ has a fifty-two week low of $61.72 and a fifty-two week high of $289.00.
ProShares UltraPro Short QQQ Increases Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were paid a $1.5055 dividend. This is an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $6.02 dividend on an annualized basis and a dividend yield of 8.4%.
ProShares UltraPro Short QQQ Company Profile
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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.