ProShares UltraPro Short QQQ Stock Set to Reverse Split on Thursday, November 7th (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock is set to reverse split on the morning of Thursday, November 7th. The 1-5 reverse split was announced on Monday, October 28th. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 6th.

ProShares UltraPro Short QQQ Stock Up 1.1 %

Shares of SQQQ opened at $7.52 on Tuesday. ProShares UltraPro Short QQQ has a 52 week low of $6.85 and a 52 week high of $18.96. The company has a 50-day simple moving average of $7.81 and a 200-day simple moving average of $8.81.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 25th were paid a $0.1495 dividend. The ex-dividend date of this dividend was Wednesday, September 25th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in SQQQ. QCM Cayman Ltd. acquired a new stake in ProShares UltraPro Short QQQ during the third quarter valued at approximately $489,000. Peregrine Asset Advisers Inc. boosted its stake in ProShares UltraPro Short QQQ by 505.9% in the 3rd quarter. Peregrine Asset Advisers Inc. now owns 31,000 shares of the company’s stock valued at $229,000 after buying an additional 25,884 shares in the last quarter. CWA Asset Management Group LLC acquired a new position in ProShares UltraPro Short QQQ during the third quarter worth $133,000. Hollencrest Capital Management lifted its holdings in shares of ProShares UltraPro Short QQQ by 40.1% during the third quarter. Hollencrest Capital Management now owns 130,262 shares of the company’s stock valued at $963,000 after acquiring an additional 37,256 shares during the period. Finally, TFB Advisors LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at $131,000.

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.