ProShares UltraPro Short QQQ Target of Unusually Large Options Trading (NASDAQ:SQQQ)

Posted by James Conley on May 5th, 2024

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) was the recipient of some unusual options trading activity on Friday. Investors purchased 421,266 call options on the stock. This represents an increase of 82% compared to the average daily volume of 231,940 call options.

ProShares UltraPro Short QQQ Stock Performance

Shares of ProShares UltraPro Short QQQ stock opened at $11.08 on Friday. The stock’s 50-day moving average is $11.08 and its 200 day moving average is $13.62. ProShares UltraPro Short QQQ has a one year low of $10.05 and a one year high of $31.09.

ProShares UltraPro Short QQQ Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, March 27th. Shareholders of record on Thursday, March 21st were paid a $0.164 dividend. The ex-dividend date was Wednesday, March 20th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently modified their holdings of SQQQ. Jump Financial LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $21,670,000. IMC Chicago LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $12,115,000. Elevatus Welath Management bought a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at about $10,428,000. Simplex Trading LLC boosted its holdings in ProShares UltraPro Short QQQ by 132.0% during the first quarter. Simplex Trading LLC now owns 833,229 shares of the company’s stock worth $8,732,000 after purchasing an additional 474,067 shares during the last quarter. Finally, B. Riley Financial Inc. purchased a new position in ProShares UltraPro Short QQQ during the third quarter worth about $8,176,000.

ProShares UltraPro Short QQQ Company Profile

(Get Free Report)

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.