Cedar Wealth Management LLC Makes New Investment in ProShares UltraPro Short QQQ $SQQQ

Cedar Wealth Management LLC acquired a new stake in ProShares UltraPro Short QQQ (NASDAQ:SQQQ) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 10,000 shares of the company’s stock, valued at approximately $152,000.

A number of other large investors also recently modified their holdings of the stock. Citigroup Inc. grew its stake in shares of ProShares UltraPro Short QQQ by 17.5% during the third quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock valued at $10,878,000 after purchasing an additional 106,243 shares during the last quarter. Q Fund Management Hong Kong Ltd acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at approximately $11,051,000. Smithfield Trust Co raised its position in ProShares UltraPro Short QQQ by 330.6% in the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after purchasing an additional 429,640 shares during the last quarter. TB Alternative Assets Ltd. acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter worth $8,394,000. Finally, Two Seas Capital LP acquired a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth $9,785,000.

ProShares UltraPro Short QQQ Trading Up 4.6%

Shares of SQQQ opened at $73.46 on Friday. The business’s fifty day moving average price is $68.54 and its two-hundred day moving average price is $72.93. ProShares UltraPro Short QQQ has a 52 week low of $61.72 and a 52 week high of $289.00.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were paid a dividend of $1.5055 per share. This represents a $6.02 annualized dividend and a dividend yield of 8.2%. This is a boost from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Wednesday, December 24th.

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.