ProShares UltraPro Short QQQ Target of Unusually Large Options Trading (NASDAQ:SQQQ)

Key Points

• ProShares UltraPro Short QQQ (SQQQ) experienced unusual options trading, with a 96% increase in call options, totaling 348,650 contracts on Friday.
• Several institutional investors significantly raised their stakes in ProShares UltraPro Short QQQ, with Game Plan Financial Advisors increasing its position by an astounding 16,818.2% in the first quarter.
• The company declared a quarterly dividend of $0.2427 per share, representing an annualized dividend of $0.97 and a yield of 6.3%.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) was the recipient of some unusual options trading activity on Friday. Traders acquired 348,650 call options on the stock. This is an increase of approximately 96% compared to the average daily volume of 177,837 call options.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently modified their holdings of SQQQ. Redwood Park Advisors LLC raised its stake 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 worth $34,000 after buying an additional 363 shares in the last quarter. Osaic Holdings Inc. raised its stake in ProShares UltraPro Short QQQ by 47.2% in the second 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. PayPay Securities Corp raised its stake in ProShares UltraPro Short QQQ by 85.9% in the first quarter. PayPay Securities Corp now owns 1,556 shares of the company's stock worth $60,000 after buying an additional 719 shares in the last quarter. Game Plan Financial Advisors LLC raised its stake in ProShares UltraPro Short QQQ by 16,818.2% in the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company's stock worth $71,000 after buying an additional 1,850 shares in the last quarter. Finally, MAI Capital Management bought a new position in ProShares UltraPro Short QQQ in the second quarter worth approximately $38,000.

ProShares UltraPro Short QQQ Stock Performance

Shares of ProShares UltraPro Short QQQ stock traded up $0.90 on Friday, hitting $15.40. 156,394,899 shares of the company traded hands, compared to its average volume of 95,169,172. The stock's 50 day moving average price is $16.81 and its 200-day moving average price is $23.50. ProShares UltraPro Short QQQ has a 52 week low of $14.35 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, September 30th. Stockholders of record on Wednesday, September 24th were paid a dividend of $0.2427 per share. This represents a $0.97 annualized dividend and a dividend yield of 6.3%. The ex-dividend date of this dividend was Wednesday, September 24th.

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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