Stock Traders Purchase Large Volume of Call Options on ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw some unusual options trading activity on Friday. Traders purchased 210,015 call options on the company. This represents an increase of 48% compared to the typical volume of 141,832 call options.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC acquired a new position in ProShares UltraPro Short QQQ during the first quarter worth about $27,000. PayPay Securities Corp increased its stake in shares of ProShares UltraPro Short QQQ by 85.9% during the 1st quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock worth $60,000 after purchasing an additional 719 shares in the last quarter. Peoples Bank KS acquired a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $62,000. Centerpoint Advisors LLC lifted its stake in ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after buying an additional 1,000 shares in the last quarter. Finally, World Investment Advisors LLC increased its position in ProShares UltraPro Short QQQ by 51.0% during the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after buying an additional 9,463 shares in the last quarter.

ProShares UltraPro Short QQQ Stock Performance

SQQQ opened at $28.61 on Friday. ProShares UltraPro Short QQQ has a 1-year low of $26.21 and a 1-year high of $57.95. The stock’s 50 day simple moving average is $36.76 and its 200 day simple moving average is $33.01.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a $0.4823 dividend. This represents a $1.93 dividend on an annualized basis and a dividend yield of 6.74%. The ex-dividend date of this dividend was Wednesday, March 26th.

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.