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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of some unusual options trading activity on Friday. Investors bought 82,818 call options on the stock. This represents an increase of 36% compared to the average daily volume of 60,883 call options.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $29,000. Parallel Advisors LLC grew its stake in shares of ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after purchasing an additional 1,022 shares during the period. MAI Capital Management acquired a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $38,000. Osaic Holdings Inc. lifted its stake in shares of ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares during the period. Finally, FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ during the third quarter worth $63,000.

ProShares UltraPro Short QQQ Stock Up 6.0%

Shares of NASDAQ:SQQQ traded up $4.92 during midday trading on Friday, reaching $87.42. The company’s stock had a trading volume of 59,765,874 shares, compared to its average volume of 54,921,629. The stock has a fifty day moving average of $71.01 and a 200 day moving average of $71.56. ProShares UltraPro Short QQQ has a twelve month low of $61.72 and a twelve month high of $289.00.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.6384 per share. This represents a $2.55 annualized dividend and a yield of 2.9%. The ex-dividend date of this dividend is Wednesday, March 25th.

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.