Sollinda Capital Management LLC Makes New $3.44 Million Investment in ProShares UltraPro Short QQQ $SQQQ

Key Points

• Sollinda Capital Management initiated a new position in ProShares UltraPro Short QQQ (SQQQ), buying 50,151 shares in Q4 valued at about $3.44 million, which equals 0.9% of its portfolio and ranks as its 20th-largest holding.
• SQQQ declared a quarterly dividend of $0.6384 (annualized $2.55, ~2.9% yield), with record date March 25 and payment on March 31.
• SQQQ is a leveraged inverse ETF that seeks daily returns equal to three times the inverse of the NASDAQ-100, and its 52-week trading range is $61.72 to $289.00, indicating substantial volatility.

Sollinda Capital Management LLC purchased a new position in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 50,151 shares of the company's stock, valued at approximately $3,435,000. ProShares UltraPro Short QQQ comprises 0.9% of Sollinda Capital Management LLC's investment portfolio, making the stock its 20th biggest position. Sollinda Capital Management LLC owned 0.15% of ProShares UltraPro Short QQQ as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Osaic Holdings Inc. increased its holdings in ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company's stock worth $42,000 after buying an additional 696 shares in the last quarter. Parallel Advisors LLC lifted its stake in ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company's stock valued at $30,000 after acquiring an additional 1,022 shares during the period. MAI Capital Management bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $38,000. FNY Investment Advisers LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the 3rd quarter valued at about $63,000. Finally, EverSource Wealth Advisors LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 43.5% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 16,499 shares of the company's stock valued at $323,000 after acquiring an additional 4,999 shares during the last quarter.

ProShares UltraPro Short QQQ Trading Up 2.3%

Shares of SQQQ stock opened at $89.42 on Tuesday. The company has a 50 day moving average price of $71.88 and a 200-day moving average price of $71.42. ProShares UltraPro Short QQQ has a 52 week low of $61.72 and a 52 week high of $289.00.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be issued a $0.6384 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $2.55 annualized dividend and a yield of 2.9%.

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. 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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