Smithfield Trust Co Acquires 227,100 Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

Key Points

• Smithfield Trust Co increased its holdings in ProShares UltraPro Short QQQ (NASDAQ:SQQQ) by 503.5%, acquiring an additional 227,100 shares to total 272,200 shares worth approximately $10.4 million.
• In the 1st quarter, several hedge funds, including IMC Chicago LLC and Squarepoint Ops LLC, also established new positions in ProShares UltraPro Short QQQ, reflecting growing institutional interest.
• ProShares UltraPro Short QQQ recently declared a dividend of $0.2566 per share, resulting in an annualized dividend of $1.03 and a yield of 5.3%.

Smithfield Trust Co increased its holdings in shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) by 503.5% in the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 272,200 shares of the company's stock after buying an additional 227,100 shares during the quarter. Smithfield Trust Co owned 0.31% of ProShares UltraPro Short QQQ worth $10,436,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. IMC Chicago LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at about $17,319,000. Squarepoint Ops LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $7,334,000. DRW Securities LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $3,155,000. Robertson Stephens Wealth Management LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the first quarter worth approximately $2,698,000. Finally, Canal Insurance CO acquired a new position in shares of ProShares UltraPro Short QQQ during the first quarter worth approximately $1,917,000.

ProShares UltraPro Short QQQ Trading Up 2.1%

NASDAQ SQQQ traded up $0.39 on Tuesday, reaching $18.84. The company had a trading volume of 53,560,908 shares, compared to its average volume of 91,887,805. The company's fifty day moving average is $20.55 and its 200 day moving average is $28.26. ProShares UltraPro Short QQQ has a 52-week low of $17.49 and a 52-week high of $57.80.

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 given a $0.2566 dividend. This represents a $1.03 dividend on an annualized basis and a yield of 5.4%. The ex-dividend date of this dividend was Wednesday, June 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.