ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Up 3% Following Dividend Announcement

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were up 3% during mid-day trading on Wednesday after the company announced a dividend. The stock traded as high as $34.30 and last traded at $34.53. Approximately 36,214,682 shares were traded during trading, a decline of 10% from the average daily volume of 40,064,110 shares. The stock had previously closed at $33.52.

The newly announced dividend which will be paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th will be given a dividend of $0.4823 per share. The ex-dividend date is Wednesday, March 26th. This represents a $1.93 annualized dividend and a dividend yield of 5.04%.

ProShares UltraPro Short QQQ Stock Up 8.0 %

The firm has a fifty day moving average price of $31.37 and a two-hundred day moving average price of $33.19.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently made changes to their positions in SQQQ. Capital Investment Advisory Services LLC purchased a new position in ProShares UltraPro Short QQQ in the 4th quarter worth about $2,374,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $439,000. Compagnie Lombard Odier SCmA raised its stake in shares of ProShares UltraPro Short QQQ by 3,357.5% during the fourth quarter. Compagnie Lombard Odier SCmA now owns 16,596 shares of the company’s stock valued at $517,000 after acquiring an additional 16,116 shares in the last quarter. SBI Securities Co. Ltd. purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter valued at approximately $423,000. Finally, Ridgepath Capital Management LLC increased its holdings in ProShares UltraPro Short QQQ by 761.2% during the 4th quarter. Ridgepath Capital Management LLC now owns 103,348 shares of the company’s stock worth $3,218,000 after purchasing an additional 91,348 shares during the period.

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.