Smithfield Trust Co Has $10.44 Million Stake in 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 grew its stake in shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) by 503.5% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 272,200 shares of the company's stock after buying an additional 227,100 shares during the period. Smithfield Trust Co owned 0.31% of ProShares UltraPro Short QQQ worth $10,436,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. DRW Securities LLC purchased a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth $3,155,000. Tower Research Capital LLC TRC boosted its position in ProShares UltraPro Short QQQ by 6,510.8% in the 4th quarter. Tower Research Capital LLC TRC now owns 33,054 shares of the company's stock valued at $1,029,000 after buying an additional 32,554 shares during the last quarter. Raffles Associates LP purchased a new position in ProShares UltraPro Short QQQ in the 4th quarter valued at about $623,000. Squarepoint Ops LLC purchased a new position in ProShares UltraPro Short QQQ in the 4th quarter valued at about $7,334,000. Finally, Parallel Advisors LLC bought a new stake in ProShares UltraPro Short QQQ in the first quarter valued at about $27,000.

ProShares UltraPro Short QQQ Price Performance

Shares of NASDAQ SQQQ traded down $0.18 during trading on Thursday, reaching $17.96. The stock had a trading volume of 62,693,607 shares, compared to its average volume of 92,299,961. ProShares UltraPro Short QQQ has a one year low of $17.49 and a one year high of $57.80. The firm's 50 day moving average price is $20.34 and its two-hundred day moving average price is $28.12.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, July 1st. Investors of record on Wednesday, June 25th were paid a $0.2566 dividend. The ex-dividend date of this dividend was Wednesday, June 25th. This represents a $1.03 dividend on an annualized basis and a yield of 5.7%.

ProShares UltraPro Short QQQ 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.