Stock Traders Buy High Volume of ProShares UltraPro Short QQQ Call Options (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Rating) was the target of some unusual options trading on Friday. Stock investors acquired 308,907 call options on the company. This is an increase of 63% compared to the average volume of 189,520 call options.

ProShares UltraPro Short QQQ Price Performance

ProShares UltraPro Short QQQ stock opened at $34.49 on Friday. The business’s fifty day moving average is $39.90 and its two-hundred day moving average is $47.17. ProShares UltraPro Short QQQ has a 52 week low of $31.17 and a 52 week high of $69.55.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, December 30th. Investors of record on Friday, December 23rd were given a dividend of $0.151 per share. The ex-dividend date of this dividend was Thursday, December 22nd. This represents a $0.60 annualized dividend and a yield of 1.75%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently added to or reduced their stakes in SQQQ. Paragon Wealth Strategies LLC acquired a new position in ProShares UltraPro Short QQQ during the 3rd quarter valued at about $25,000. Psagot Value Holdings Ltd. Israel increased its holdings in shares of ProShares UltraPro Short QQQ by 229.4% in the third quarter. Psagot Value Holdings Ltd. Israel now owns 718 shares of the company’s stock worth $44,000 after purchasing an additional 500 shares during the period. Bank of Montreal Can increased its stake in ProShares UltraPro Short QQQ by 108.0% in the fourth quarter. Bank of Montreal Can now owns 915 shares of the company’s stock valued at $51,000 after acquiring an additional 475 shares during the last quarter. Level Financial Advisors Inc. purchased a new stake in ProShares UltraPro Short QQQ during the third quarter valued at about $86,000. Finally, Signaturefd LLC purchased a new stake in ProShares UltraPro Short QQQ during the third quarter valued at about $92,000.

About ProShares UltraPro Short QQQ

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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.