ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Up 5.8% - What's Next?

Key Points

• The stock price of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) increased by 5.8% on Friday, closing at $15.34 after reaching a high of $15.58.
• The company announced a quarterly dividend of $0.2427, which equates to a 6.2% yield, paid to investors of record on September 24th.
• Institutional investors are actively adjusting their stakes in SQQQ, with notable investments including Q Fund Management Hong Kong Ltd and Two Seas Capital LP during the 2nd quarter.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - )'s stock price were up 5.8% on Friday . The company traded as high as $15.58 and last traded at $15.34. Approximately 151,934,688 shares were traded during mid-day trading, an increase of 60% from the average daily volume of 95,169,172 shares. The stock had previously closed at $14.50.

ProShares UltraPro Short QQQ Stock Performance

The company's 50-day moving average price is $16.81 and its 200 day moving average price is $23.50.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were issued a $0.2427 dividend. This represents a $0.97 annualized dividend and a yield of 6.2%. The ex-dividend date of this dividend was Wednesday, September 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SQQQ. Q Fund Management Hong Kong Ltd bought a new position in ProShares UltraPro Short QQQ in the 2nd quarter worth approximately $11,051,000. Two Seas Capital LP bought a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at approximately $9,785,000. Squarepoint Ops LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at approximately $6,504,000. Smithfield Trust Co boosted its position in shares of ProShares UltraPro Short QQQ by 503.5% during the 1st quarter. Smithfield Trust Co now owns 272,200 shares of the company's stock valued at $10,436,000 after acquiring an additional 227,100 shares during the last quarter. Finally, Lane Generational LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at approximately $4,187,000.

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.

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