Chelsea Counsel Co. Invests $631,000 in ProShares UltraPro Short QQQ $SQQQ

Key Points

• Chelsea Counsel Co. acquired a new stake of 41,435 shares in ProShares UltraPro Short QQQ (NASDAQ: SQQQ), valued at approximately $631,000 and representing about 0.09% of the fund.
• ProShares UltraPro Short QQQ boosted its quarterly dividend to $1.5055 (annualized $6.02, ~8.3% yield), paid Dec. 31 with an ex-dividend date of Dec. 24.
• Several large institutions also adjusted positions—Quadrature Capital opened a roughly $33.4M stake, Citigroup increased holdings to 714,260 shares (~$10.9M), and Flow Traders and Smithfield Trust added sizeable stakes—signaling notable institutional interest in SQQQ.

Chelsea Counsel Co. acquired a new stake in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor acquired 41,435 shares of the company's stock, valued at approximately $631,000. Chelsea Counsel Co. owned about 0.09% of ProShares UltraPro Short QQQ as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. Quadrature Capital Ltd acquired a new position in ProShares UltraPro Short QQQ in the third quarter valued at approximately $33,368,000. Citigroup Inc. raised its holdings in ProShares UltraPro Short QQQ by 17.5% during the third quarter. Citigroup Inc. now owns 714,260 shares of the company's stock worth $10,878,000 after purchasing an additional 106,243 shares in the last quarter. Flow Traders U.S. LLC raised its holdings in ProShares UltraPro Short QQQ by 168.5% during the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company's stock worth $10,241,000 after purchasing an additional 421,972 shares in the last quarter. Q Fund Management Hong Kong Ltd acquired a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $11,051,000. Finally, Smithfield Trust Co boosted its holdings in shares of ProShares UltraPro Short QQQ by 330.6% in the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company's stock valued at $8,523,000 after buying an additional 429,640 shares in the last quarter.

ProShares UltraPro Short QQQ Stock Down 1.4%

NASDAQ SQQQ opened at $72.15 on Wednesday. The firm's fifty day moving average price is $69.24 and its 200 day moving average price is $71.86. ProShares UltraPro Short QQQ has a 12 month low of $61.72 and a 12 month high of $289.00.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were paid a $1.5055 dividend. This is a boost from ProShares UltraPro Short QQQ's previous quarterly dividend of $1.21. This represents a $6.02 annualized dividend and a yield of 8.3%. The ex-dividend date was Wednesday, December 24th.

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. 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.

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