Investors Purchase Large Volume of ProShares UltraPro Short QQQ Call Options (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the recipient of unusually large options trading activity on Friday. Investors bought 267,795 call options on the stock. This represents an increase of 71% compared to the typical daily volume of 156,841 call options.

ProShares UltraPro Short QQQ Stock Performance

Shares of SQQQ stock opened at $22.76 on Friday. ProShares UltraPro Short QQQ has a 52 week low of $21.52 and a 52 week high of $57.95. The company’s 50 day moving average price is $28.93 and its two-hundred day moving average price is $30.91.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a dividend of $0.4823 per share. 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 8.48%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors have recently added to or reduced their stakes in SQQQ. IMC Chicago LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at about $17,319,000. Sollinda Capital Management LLC bought a new position in ProShares UltraPro Short QQQ during the fourth quarter worth $13,933,000. Squarepoint Ops LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at $7,334,000. Smithfield Trust Co lifted its stake in shares of ProShares UltraPro Short QQQ by 503.5% in the first quarter. Smithfield Trust Co now owns 272,200 shares of the company’s stock valued at $10,436,000 after buying an additional 227,100 shares in the last quarter. Finally, Goldman Sachs Group Inc. bought a new position in shares of ProShares UltraPro Short QQQ during the first quarter valued at about $7,668,000.

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.