Goldman Sachs Group Inc. Invests $7.67 Million in ProShares UltraPro Short QQQ $SQQQ

Key Points

• Goldman Sachs Group Inc. has acquired 200,000 shares of ProShares UltraPro Short QQQ (SQQQ) valued at approximately $7.67 million, representing about 0.23% ownership in the company.
• Other hedge funds have also increased their positions in SQQQ, with significant stakes raised by Parallel Advisors LLC, Redwood Park Advisors LLC, and Game Plan Financial Advisors LLC.
• The ProShares UltraPro Short QQQ fund aims for daily investment results that correspond to three times the inverse of the daily performance of the NASDAQ-100 Index.

Goldman Sachs Group Inc. bought a new stake in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 200,000 shares of the company's stock, valued at approximately $7,668,000. Goldman Sachs Group Inc. owned 0.23% of ProShares UltraPro Short QQQ as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the stock. IMC Chicago LLC purchased a new stake in ProShares UltraPro Short QQQ in the first quarter valued at approximately $17,319,000. Smithfield Trust Co grew its holdings in 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 purchasing an additional 227,100 shares during the period. Squarepoint Ops LLC purchased a new stake in ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $7,334,000. Robertson Stephens Wealth Management LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter worth approximately $2,698,000. Finally, Flow Traders U.S. LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter worth approximately $2,512,000.

ProShares UltraPro Short QQQ Price Performance

SQQQ traded down $0.13 during trading on Friday, hitting $15.74. 45,609,941 shares of the company's stock were exchanged, compared to its average volume of 93,445,125. ProShares UltraPro Short QQQ has a 1 year low of $15.63 and a 1 year high of $57.80. The stock has a 50 day moving average price of $17.84 and a 200 day moving average price of $25.69.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were issued a $0.2566 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $1.03 annualized dividend and a yield of 6.5%.

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.