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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw unusually large options trading activity on Wednesday. Stock traders acquired 242,639 call options on the stock. Thisrepresentsanincreaseof47% compared to the average volume of 164,638 call options.

ProShares UltraPro Short QQQ Stock Performance

ProShares UltraPro Short QQQ stock opened at $18.33 on Thursday. The company’s 50-day moving average is $19.29 and its 200-day moving average is $27.35. ProShares UltraPro Short QQQ has a fifty-two week low of $16.71 and a fifty-two week high of $57.80.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were issued a dividend of $0.2566 per share. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $1.03 annualized dividend and a dividend yield of 5.6%.

Institutional Trading of ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Redwood Park Advisors LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 69.3% during the 1st quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock worth $34,000 after buying an additional 363 shares during the period. Parallel Advisors LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the 1st quarter worth about $27,000. PayPay Securities Corp boosted its holdings in shares of ProShares UltraPro Short QQQ by 85.9% during the 1st quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock worth $60,000 after buying an additional 719 shares during the period. Game Plan Financial Advisors LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 16,818.2% during the 1st quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock worth $71,000 after buying an additional 1,850 shares during the period. Finally, MAI Capital Management bought a new stake in ProShares UltraPro Short QQQ in the 2nd quarter valued at about $38,000.

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.