ProShares UltraPro Short QQQ Sees Unusually High Options Volume (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of some unusual options trading activity on Friday. Stock traders bought 82,818 call options on the stock. This is an increase of 36% compared to the average volume of 60,883 call options.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC acquired a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth about $29,000. MAI Capital Management bought a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at about $38,000. Parallel Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after buying an additional 1,022 shares during the period. Sunbelt Securities Inc. bought a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $137,000. Finally, Osaic Holdings Inc. lifted its holdings in ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares during the period.

ProShares UltraPro Short QQQ Stock Performance

SQQQ stock opened at $87.42 on Friday. The company has a 50 day moving average price of $71.42 and a 200 day moving average price of $71.48. ProShares UltraPro Short QQQ has a fifty-two week low of $61.72 and a fifty-two week high of $289.00.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a dividend of $0.6384 per share. The ex-dividend date is Wednesday, March 25th. This represents a $2.55 dividend on an annualized basis and a dividend yield of 2.9%.

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.