ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 3.4% – Here’s Why

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) rose 3.4% during mid-day trading on Friday . The company traded as high as $79.02 and last traded at $78.5280. Approximately 15,825,238 shares changed hands during mid-day trading, a decline of 71% from the average daily volume of 53,669,945 shares. The stock had previously closed at $75.91.

ProShares UltraPro Short QQQ Trading Up 5.3%

The firm’s 50-day moving average price is $69.63 and its two-hundred day moving average price is $71.91.

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 paid a $1.5055 dividend. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $6.02 annualized dividend and a yield of 7.5%. 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

A number of hedge funds have recently made changes to their positions in the company. Corient Private Wealth LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $431,000. Sunbelt Securities Inc. bought a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at approximately $137,000. Hamilton Wealth LLC grew its stake in shares of ProShares UltraPro Short QQQ by 1,087.5% in the fourth quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock valued at $8,135,000 after buying an additional 108,754 shares in the last quarter. Axxcess Wealth Management LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth $1,322,000. Finally, Tower Research Capital LLC TRC lifted its stake in ProShares UltraPro Short QQQ by 1,636.9% in the fourth quarter. Tower Research Capital LLC TRC now owns 41,217 shares of the company’s stock valued at $2,823,000 after acquiring an additional 38,844 shares during 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.