Investors Purchase Large Volume of Call Options on ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of unusually large options trading activity on Friday. Stock investors bought 224,887 call options on the company. This represents an increase of 66% compared to the average daily volume of 135,776 call options.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors have recently modified their holdings of the company. RBF Capital LLC raised its position in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after purchasing an additional 1,166,014 shares during the period. IMC Chicago LLC grew its stake in shares of ProShares UltraPro Short QQQ by 40.6% in the third quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock valued at $28,638,000 after buying an additional 1,119,452 shares in the last quarter. Smithfield Trust Co raised its holdings in shares of ProShares UltraPro Short QQQ by 138.8% during the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after buying an additional 444,000 shares during the period. Kovitz Investment Group Partners LLC acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $1,848,000. Finally, Barclays PLC boosted its holdings in ProShares UltraPro Short QQQ by 157.8% in the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock worth $1,503,000 after acquiring an additional 124,500 shares during the period.

ProShares UltraPro Short QQQ Price Performance

Shares of SQQQ traded up $0.18 during mid-day trading on Friday, hitting $29.03. The company had a trading volume of 73,146,919 shares, compared to its average volume of 54,893,633. ProShares UltraPro Short QQQ has a 1-year low of $27.23 and a 1-year high of $64.95. The business’s 50-day simple moving average is $30.19 and its 200-day simple moving average is $36.51.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were paid a dividend of $0.8168 per share. The ex-dividend date was Monday, December 23rd. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

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.