Stock Traders Buy High 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. Stock investors purchased 267,795 call options on the company. This is an increase of 71% compared to the average volume of 156,841 call options.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC purchased a new position in ProShares UltraPro Short QQQ during the 1st quarter valued at about $17,319,000. Sollinda Capital Management LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth approximately $13,933,000. Squarepoint Ops LLC bought a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at approximately $7,334,000. Smithfield Trust Co raised its stake in ProShares UltraPro Short QQQ by 503.5% during the first quarter. Smithfield Trust Co now owns 272,200 shares of the company’s stock valued at $10,436,000 after buying an additional 227,100 shares during the last quarter. Finally, Goldman Sachs Group Inc. bought a new stake in ProShares UltraPro Short QQQ in the first quarter worth $7,668,000.

ProShares UltraPro Short QQQ Stock Performance

Shares of SQQQ opened at $22.76 on Friday. ProShares UltraPro Short QQQ has a one year low of $21.52 and a one year high of $57.95. The company has a 50-day simple moving average of $28.93 and a two-hundred day simple moving average of $30.93.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were given a dividend of $0.4823 per share. The ex-dividend date was Wednesday, March 26th. This represents a $1.93 annualized dividend and a dividend yield of 8.48%.

ProShares UltraPro Short QQQ Company Profile

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.