ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 5.2% - Here's What Happened

Key Points

• ProShares UltraPro Short QQQ's stock price increased by 5.2% during mid-day trading, reaching a high of $15.07, with over 120 million shares traded—23% above its average daily volume.
• The company recently paid a dividend of $0.2427 per share, translating to an annualized dividend of $0.97 with a yield of 6.6%.
• Several institutional investors have recently made notable transactions in SQQQ, including Canal Insurance CO and Redwood Park Advisors LLC, indicating growing interest in the fund.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - )'s share price rose 5.2% during mid-day trading on Wednesday . The company traded as high as $15.07 and last traded at $15.09. Approximately 120,421,760 shares were traded during trading, an increase of 23% from the average daily volume of 98,122,047 shares. The stock had previously closed at $14.35.

ProShares UltraPro Short QQQ Trading Up 3.1%

The business has a 50-day simple moving average of $16.31 and a 200-day simple moving average of $22.09.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, September 30th. Stockholders of record on Wednesday, September 24th were given a dividend of $0.2427 per share. The ex-dividend date was Wednesday, September 24th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 6.6%.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently modified their holdings of SQQQ. Canal Insurance CO bought a new stake in ProShares UltraPro Short QQQ in the first quarter valued at $1,917,000. CWM LLC bought a new stake in ProShares UltraPro Short QQQ in the first quarter valued at $1,016,000. SBI Securities Co. Ltd. grew its position in ProShares UltraPro Short QQQ by 18.2% in the first quarter. SBI Securities Co. Ltd. now owns 16,070 shares of the company's stock valued at $616,000 after acquiring an additional 2,480 shares during the period. Private Advisor Group LLC bought a new stake in ProShares UltraPro Short QQQ in the first quarter valued at $563,000. Finally, Redwood Park Advisors LLC grew its position in ProShares UltraPro Short QQQ by 69.3% in the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company's stock valued at $34,000 after acquiring an additional 363 shares during the period.

About ProShares UltraPro Short QQQ

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.

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