Maxi Investments CY Ltd Invests $1.98 Million in ProShares UltraPro Short QQQ $SQQQ

Key Points

• Maxi Investments CY Ltd acquired 130,000 shares of ProShares UltraPro Short QQQ (SQQQ) in Q3, valued at approximately $1.98 million, representing about 0.06% ownership.
• ProShares paid an increased quarterly dividend of $1.5055 on Dec. 31 (ex-dividend Dec. 24), which annualizes to $6.02 and implies a 8.2% yield, up from the prior quarterly $1.21.
• SQQQ is a leveraged inverse ETF that seeks daily performance equal to -3x the NASDAQ-100 using derivatives and short-term cash instruments, making it a high-risk tactical/hedging vehicle rather than a long-term buy-and-hold investment.

Maxi Investments CY Ltd acquired a new stake in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) during the third quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 130,000 shares of the company's stock, valued at approximately $1,980,000. Maxi Investments CY Ltd owned 0.06% of ProShares UltraPro Short QQQ at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Goldman Sachs Group Inc. acquired a new stake in ProShares UltraPro Short QQQ during the first quarter worth approximately $7,668,000. Creative Planning acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at approximately $1,986,000. JPMorgan Chase & Co. acquired a new position in ProShares UltraPro Short QQQ in the second quarter valued at approximately $400,000. MAI Capital Management bought a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $38,000. Finally, Horizon Kinetics Asset Management LLC grew its holdings in ProShares UltraPro Short QQQ by 99.5% in the second quarter. Horizon Kinetics Asset Management LLC now owns 25,126 shares of the company's stock worth $492,000 after purchasing an additional 12,530 shares during the period.

ProShares UltraPro Short QQQ Stock Down 3.3%

SQQQ opened at $73.21 on Tuesday. ProShares UltraPro Short QQQ has a 1-year low of $61.72 and a 1-year high of $289.00. The company has a fifty day moving average price of $69.11 and a two-hundred day moving average price of $71.98.

ProShares UltraPro Short QQQ Increases Dividend

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

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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