ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Strong Trading Volume – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw unusually-high trading volume on Friday . Approximately 45,819,210 shares changed hands during mid-day trading, an increase of 8% from the previous session’s volume of 42,384,560 shares.The stock last traded at $46.40 and had previously closed at $42.53.

ProShares UltraPro Short QQQ Price Performance

The business’s 50-day moving average price is $32.39 and its 200-day moving average price is $33.03.

ProShares UltraPro Short QQQ Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a dividend of $0.4823 per share. This represents a $1.93 dividend on an annualized basis and a dividend yield of 3.93%. The ex-dividend date was Wednesday, March 26th.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors have recently made changes to their positions in SQQQ. RBF Capital LLC raised its stake in ProShares UltraPro Short QQQ by 230.7% in the third quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after buying an additional 1,166,014 shares during the last quarter. Sollinda Capital Management LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter valued at about $13,933,000. Kovitz Investment Group Partners LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at approximately $1,848,000. Squarepoint Ops LLC acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter worth approximately $7,334,000. Finally, Barclays PLC increased its stake in ProShares UltraPro Short QQQ by 157.8% during the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock valued at $1,503,000 after purchasing an additional 124,500 shares in the last quarter.

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.