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

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

ProShares UltraPro Short QQQ Stock Up 5.2%

The company has a 50 day moving average of $67.25 and a 200-day moving average of $75.76.

ProShares UltraPro Short QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were paid a $1.5055 dividend. This represents a $6.02 annualized dividend and a dividend yield of 8.4%. This is an increase from ProShares UltraPro Short QQQ’s previous quarterly dividend of $1.21. The ex-dividend date was Wednesday, December 24th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of SQQQ. Parallel Advisors LLC raised its position in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares in the last quarter. MAI Capital Management bought a new position in shares of ProShares UltraPro Short QQQ in the second quarter valued at $38,000. Osaic Holdings Inc. lifted its position in shares of ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares in the last quarter. PayPay Securities Corp grew its position in 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 period. Finally, FNY Investment Advisers LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the third quarter valued at $63,000.

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.