ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 6.7% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were up 6.7% during mid-day trading on Thursday . The company traded as high as $67.11 and last traded at $66.9980. Approximately 38,565,226 shares changed hands during trading, a decline of 3% from the average daily volume of 39,892,883 shares. The stock had previously closed at $62.79.

ProShares UltraPro Short QQQ Stock Up 3.7%

The business’s fifty day moving average is $67.49 and its 200-day moving average is $76.41.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were paid a dividend of $1.5055 per share. The ex-dividend date was Wednesday, December 24th. This is an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. This represents a $6.02 annualized dividend and a dividend yield of 9.1%.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SQQQ. Quadrature Capital Ltd acquired a new stake in ProShares UltraPro Short QQQ in the third quarter valued at approximately $33,368,000. Q Fund Management Hong Kong Ltd purchased a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $11,051,000. TB Alternative Assets Ltd. acquired a new position in ProShares UltraPro Short QQQ in the 3rd quarter valued at about $8,394,000. Two Seas Capital LP purchased a new stake in ProShares UltraPro Short QQQ in the second quarter valued at approximately $9,785,000. Finally, Smithfield Trust Co lifted its stake in shares of ProShares UltraPro Short QQQ by 330.6% during the third quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after purchasing an additional 429,640 shares in the last quarter.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.