ProShares UltraPro Short QQQ Target of Unusually Large Options Trading (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw unusually large options trading activity on Friday. Stock investors bought 179,946 call options on the stock. This represents an increase of 41% compared to the typical daily volume of 127,423 call options.

ProShares UltraPro Short QQQ Stock Performance

NASDAQ:SQQQ opened at $50.36 on Friday. The firm has a 50-day moving average price of $32.84 and a two-hundred day moving average price of $33.03. ProShares UltraPro Short QQQ has a twelve month low of $26.21 and a twelve month high of $64.95.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently announced 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 dividend on an annualized basis and a yield of 3.83%.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in SQQQ. Peoples Bank KS acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $62,000. Centerpoint Advisors LLC raised its holdings in ProShares UltraPro Short QQQ by 20.0% in the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after buying an additional 1,000 shares during the period. Foundations Investment Advisors LLC acquired a new position in ProShares UltraPro Short QQQ during the fourth quarter valued at approximately $360,000. SBI Securities Co. Ltd. purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth approximately $423,000. Finally, Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $439,000.

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.