ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Up 5.1% – Here’s What Happened

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) rose 5.1% during trading on Tuesday . The company traded as high as $37.91 and last traded at $37.85. Approximately 12,674,286 shares were traded during mid-day trading, a decline of 67% from the average daily volume of 38,995,159 shares. The stock had previously closed at $36.02.

ProShares UltraPro Short QQQ Stock Down 3.8 %

The stock has a 50-day simple moving average of $30.90 and a 200 day simple moving average of $33.52.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd were given a $0.8168 dividend. The ex-dividend date was Monday, December 23rd. This is an increase from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Trading of ProShares UltraPro Short QQQ

A number of hedge funds have recently modified their holdings of SQQQ. RBF Capital LLC lifted its position in shares of ProShares UltraPro Short QQQ by 230.7% in the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock worth $12,352,000 after acquiring an additional 1,166,014 shares during the period. Sollinda Capital Management LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth approximately $13,933,000. Smithfield Trust Co lifted its position in shares of ProShares UltraPro Short QQQ by 138.8% during the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock worth $5,645,000 after buying an additional 444,000 shares during the period. Kovitz Investment Group Partners LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 3rd quarter worth approximately $1,848,000. Finally, Squarepoint Ops LLC bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth approximately $7,334,000.

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.