Intellectus Partners LLC Invests $381,000 in ProShares UltraPro Short QQQ $SQQQ

Key Points

• Intellectus Partners LLC opened a new position in ProShares UltraPro Short QQQ (SQQQ) in Q3, buying 25,000 shares worth about $381,000.
• Multiple institutions boosted exposure to SQQQ—e.g., Group One Trading (+161.8%), Optiver (+1,685.7%), and Citigroup now holds 714,260 shares (~$10.9M)—signaling rising institutional interest.
• SQQQ, a fund that seeks daily results equal to three times the inverse of the NASDAQ-100, recently raised its quarterly dividend to $1.5055 (annualized $6.02, ~8.2% yield) and was trading near $73.46, up about 4.6%.

Intellectus Partners LLC purchased a new position in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 25,000 shares of the company's stock, valued at approximately $381,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Group One Trading LLC lifted its holdings in ProShares UltraPro Short QQQ by 161.8% during the 3rd quarter. Group One Trading LLC now owns 243,434 shares of the company's stock worth $3,708,000 after buying an additional 150,441 shares during the last quarter. Integrated Advisors Network LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at approximately $297,000. Optiver Holding B.V. increased its holdings in shares of ProShares UltraPro Short QQQ by 1,685.7% in the 3rd quarter. Optiver Holding B.V. now owns 309,795 shares of the company's stock valued at $4,718,000 after acquiring an additional 292,446 shares during the last quarter. EverSource Wealth Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 139.8% during the 3rd quarter. EverSource Wealth Advisors LLC now owns 39,558 shares of the company's stock valued at $602,000 after acquiring an additional 23,059 shares in the last quarter. Finally, Citigroup Inc. lifted its stake 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 during the last quarter.

ProShares UltraPro Short QQQ Trading Up 4.6%

SQQQ stock opened at $73.46 on Friday. ProShares UltraPro Short QQQ has a 1-year low of $61.72 and a 1-year high of $289.00. The firm has a fifty day moving average price of $68.54 and a two-hundred day moving average price of $72.82.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a $1.5055 dividend. This is a boost from ProShares UltraPro Short QQQ's previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Wednesday, December 24th. This represents a $6.02 annualized dividend and a dividend yield of 8.2%.

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.

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