ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Up 5.5% – Here’s Why

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) traded up 5.5% during trading on Friday . The company traded as high as $32.42 and last traded at $32.03. 25,202,213 shares changed hands during trading, a decline of 50% from the average session volume of 49,976,945 shares. The stock had previously closed at $30.35.

ProShares UltraPro Short QQQ Stock Up 4.9 %

The stock’s 50 day moving average is $31.31 and its two-hundred day moving average is $37.39.

ProShares UltraPro Short QQQ Increases Dividend

The company also recently declared a dividend, which was paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd were paid a $0.8168 dividend. The ex-dividend date of this dividend was Monday, December 23rd. This is a positive change from ProShares UltraPro Short QQQ’s previous dividend of $0.75.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC boosted its stake in ProShares UltraPro Short QQQ by 40.6% during the 3rd quarter. IMC Chicago LLC now owns 3,875,258 shares of the company’s stock worth $28,638,000 after purchasing an additional 1,119,452 shares during the last quarter. RBF Capital LLC grew its stake in ProShares UltraPro Short QQQ by 230.7% during the 3rd quarter. RBF Capital LLC now owns 1,671,427 shares of the company’s stock valued at $12,352,000 after acquiring an additional 1,166,014 shares in the last quarter. Smithfield Trust Co raised its holdings in ProShares UltraPro Short QQQ by 138.8% in the 3rd quarter. Smithfield Trust Co now owns 764,000 shares of the company’s stock valued at $5,645,000 after acquiring an additional 444,000 shares during the last quarter. Kovitz Investment Group Partners LLC purchased a new position in ProShares UltraPro Short QQQ in the 3rd quarter worth approximately $1,848,000. Finally, Barclays PLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 157.8% during the 3rd quarter. Barclays PLC now owns 203,395 shares of the company’s stock worth $1,503,000 after purchasing an additional 124,500 shares during 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.