ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 3% Following Dividend Announcement

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price shot up 3% during trading on Wednesday after the company announced a dividend. The stock traded as high as $34.30 and last traded at $34.53. 36,214,682 shares changed hands during trading, a decline of 10% from the average session volume of 40,064,110 shares. The stock had previously closed at $33.52.

The newly announced dividend which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be issued a $0.4823 dividend. This represents a $1.93 annualized dividend and a dividend yield of 5.04%. The ex-dividend date is Wednesday, March 26th.

ProShares UltraPro Short QQQ Trading Up 8.0 %

The company’s 50-day moving average price is $31.37 and its 200-day moving average price is $33.19.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently added to or reduced their stakes in the company. Peoples Bank KS bought a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at about $62,000. Centerpoint Advisors LLC lifted its stake in ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after acquiring an additional 1,000 shares in the last quarter. World Investment Advisors LLC lifted its stake in ProShares UltraPro Short QQQ by 51.0% in the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after acquiring an additional 9,463 shares in the last quarter. Foundations Investment Advisors LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $360,000. Finally, SBI Securities Co. Ltd. bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $423,000.

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.