JPMorgan Chase & Co. Purchases 164,440 Shares of ProShares UltraPro Short QQQ $SQQQ

Key Points

• JPMorgan Chase & Co. increased its position in ProShares UltraPro Short QQQ (SQQQ) by 804.3%, purchasing an additional 164,440 shares in Q3 to hold 184,884 shares (about 0.40% of the fund) worth roughly $2.82 million.
• Other institutions also added SQQQ exposure—Goldman Sachs established a new position worth about $7.67 million, while Flow Traders boosted its stake to 250,470 shares after a 282.2% increase.
• SQQQ is a leveraged ETF seeking three times the inverse of the NASDAQ-100's daily performance; it opened at $77.29 (52-week range $61.72–$289.00) and recently paid a quarterly dividend of $0.6384 (annualized $2.55, ~3.3% yield).

JPMorgan Chase & Co. increased its position in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) by 804.3% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 184,884 shares of the company's stock after purchasing an additional 164,440 shares during the quarter. JPMorgan Chase & Co. owned approximately 0.40% of ProShares UltraPro Short QQQ worth $2,816,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in SQQQ. Goldman Sachs Group Inc. bought a new position in ProShares UltraPro Short QQQ in the first quarter worth $7,668,000. EverSource Wealth Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 43.5% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 16,499 shares of the company's stock worth $323,000 after buying an additional 4,999 shares during the period. Cresset Asset Management LLC bought a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth about $198,000. Flow Traders U.S. LLC increased its stake in shares of ProShares UltraPro Short QQQ by 282.2% in the 2nd quarter. Flow Traders U.S. LLC now owns 250,470 shares of the company's stock worth $4,902,000 after acquiring an additional 184,940 shares in the last quarter. Finally, StoneX Group Inc. lifted its position in ProShares UltraPro Short QQQ by 210.1% during the 2nd quarter. StoneX Group Inc. now owns 43,996 shares of the company's stock valued at $861,000 after acquiring an additional 29,809 shares during the period.

ProShares UltraPro Short QQQ Price Performance

NASDAQ:SQQQ opened at $77.29 on Monday. ProShares UltraPro Short QQQ has a one year low of $61.72 and a one year high of $289.00. The company's 50-day simple moving average is $72.71 and its 200 day simple moving average is $71.32.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were given a $0.6384 dividend. This represents a $2.55 dividend on an annualized basis and a dividend yield of 3.3%. The ex-dividend date of this dividend was Wednesday, March 25th.

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.

Want to see what other hedge funds are holding SQQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report).

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