ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 7% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares shot up 7% on Monday . The stock traded as high as $40.70 and last traded at $41.34. 12,992,015 shares changed hands during mid-day trading, a decline of 73% from the average session volume of 47,899,788 shares. The stock had previously closed at $38.64.

ProShares UltraPro Short QQQ Trading Up 8.4 %

The firm has a fifty day moving average price of $35.64 and a 200-day moving average price of $33.21.

ProShares UltraPro Short QQQ Cuts Dividend

The business 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. This represents a $1.93 annualized dividend and a yield of 4.61%. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SQQQ. Parallel Advisors LLC purchased a new position in ProShares UltraPro Short QQQ in the first quarter valued at approximately $27,000. PayPay Securities Corp increased its holdings in ProShares UltraPro Short QQQ by 85.9% in the 1st quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock valued at $60,000 after purchasing an additional 719 shares in the last quarter. Peoples Bank KS acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth about $62,000. Centerpoint Advisors LLC boosted its position in shares of ProShares UltraPro Short QQQ by 20.0% in the fourth quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock worth $187,000 after buying an additional 1,000 shares during the period. Finally, World Investment Advisors LLC grew its stake in shares of ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after buying an additional 9,463 shares in the last quarter.

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.