ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 4.6% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were up 4.6% during mid-day trading on Thursday . The company traded as high as $73.63 and last traded at $73.92. 18,323,559 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 53,659,371 shares. The stock had previously closed at $70.65.

ProShares UltraPro Short QQQ Trading Up 4.1%

The business’s fifty day simple moving average is $68.74 and its 200-day simple moving average is $72.39.

ProShares UltraPro Short QQQ Increases Dividend

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

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $29,000. MAI Capital Management bought a new stake in ProShares UltraPro Short QQQ during the second quarter valued at about $38,000. Parallel Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after acquiring an additional 1,022 shares in the last quarter. Sunbelt Securities Inc. bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $137,000. Finally, Osaic Holdings Inc. grew its position in shares of ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares in the last quarter.

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.