ProShares UltraPro Short QQQ Sees Unusually Large Options Volume (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw some unusual options trading on Friday. Stock traders purchased 429,815 call options on the company. This represents an increase of approximately 80% compared to the average daily volume of 238,918 call options.

ProShares UltraPro Short QQQ Stock Performance

SQQQ opened at $9.10 on Friday. ProShares UltraPro Short QQQ has a 12-month low of $7.14 and a 12-month high of $23.34. The stock has a fifty day moving average of $8.64 and a 200-day moving average of $10.48.

ProShares UltraPro Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, July 3rd. Stockholders of record on Wednesday, June 26th were paid a $0.1605 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 7.05%. The ex-dividend date of this dividend was Wednesday, June 26th.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently modified their holdings of SQQQ. Jump Financial LLC acquired a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth $21,670,000. Jane Street Group LLC increased its stake in shares of ProShares UltraPro Short QQQ by 378.6% in the first quarter. Jane Street Group LLC now owns 1,947,014 shares of the company’s stock worth $20,405,000 after acquiring an additional 1,540,169 shares during the last quarter. IMC Chicago LLC increased its stake in shares of ProShares UltraPro Short QQQ by 113.4% in the second quarter. IMC Chicago LLC now owns 2,755,806 shares of the company’s stock worth $22,818,000 after acquiring an additional 1,464,325 shares during the last quarter. Simplex Trading LLC increased its stake in shares of ProShares UltraPro Short QQQ by 132.0% in the first quarter. Simplex Trading LLC now owns 833,229 shares of the company’s stock worth $8,732,000 after acquiring an additional 474,067 shares during the last quarter. Finally, Smithfield Trust Co acquired a new position in ProShares UltraPro Short QQQ during the fourth quarter worth $2,458,000.

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.