ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Up 3.4% – Time to Buy?

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

ProShares UltraPro Short QQQ Trading Up 5.7%

The company’s fifty day moving average is $69.94 and its 200-day moving average is $71.70.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were given a dividend of $1.5055 per share. 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 an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $29,000. Parallel Advisors LLC raised its position in ProShares UltraPro Short QQQ by 105.4% during 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. MAI Capital Management acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at approximately $38,000. Osaic Holdings Inc. boosted its position in ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares in the last quarter. Finally, FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ in the 3rd quarter worth approximately $63,000.

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. 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.