Traders Buy High Volume of Call Options on ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of some unusual options trading on Friday. Investors purchased 210,015 call options on the stock. This represents an increase of approximately 48% compared to the average daily volume of 141,832 call options.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently made changes to their positions in the business. IMC Chicago LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at approximately $17,319,000. Sollinda Capital Management LLC bought a new stake in ProShares UltraPro Short QQQ during the 4th quarter valued at $13,933,000. Squarepoint Ops LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth $7,334,000. Barclays PLC grew its position in shares of ProShares UltraPro Short QQQ by 157.8% during the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock worth $1,503,000 after buying an additional 124,500 shares in the last quarter. Finally, DRW Securities LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $3,155,000.

ProShares UltraPro Short QQQ Stock Down 4.7 %

SQQQ opened at $28.61 on Friday. ProShares UltraPro Short QQQ has a one year low of $26.21 and a one year high of $57.95. The stock’s 50 day moving average price is $36.76 and its 200-day moving average price is $33.03.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were paid a $0.4823 dividend. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $1.93 dividend on an annualized basis and a yield of 6.74%.

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.