ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 7.5% – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shot up 7.5% during mid-day trading on Wednesday . The company traded as high as $72.60 and last traded at $73.0860. 43,667,075 shares were traded during trading, a decline of 2% from the average session volume of 44,542,711 shares. The stock had previously closed at $67.96.

ProShares UltraPro Short QQQ Price Performance

The company has a 50-day simple moving average of $67.25 and a two-hundred day simple moving average of $75.76.

ProShares UltraPro Short QQQ Increases Dividend

The firm also recently announced 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. This represents a $6.02 annualized dividend and a dividend yield of 8.4%. This is a boost from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. The ex-dividend date of this dividend was Wednesday, December 24th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently modified their holdings of the stock. MAI Capital Management purchased a new stake in ProShares UltraPro Short QQQ during the 2nd quarter valued at $38,000. Parallel Advisors LLC increased its position in ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after buying an additional 1,022 shares in the last quarter. Osaic Holdings Inc. increased its stake in shares of 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 purchasing an additional 696 shares in the last quarter. Warren Street Wealth Advisors LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth about $206,000. Finally, PayPay Securities Corp raised its position in shares of ProShares UltraPro Short QQQ by 100.8% during the second quarter. PayPay Securities Corp now owns 3,124 shares of the company’s stock valued at $61,000 after buying an additional 1,568 shares during 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.