Stock Traders Buy Large Volume of Call Options on ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of unusually large options trading activity on Friday. Traders bought 179,946 call options on the company. This represents an increase of 41% compared to the average daily volume of 127,423 call options.

ProShares UltraPro Short QQQ Stock Up 18.4 %

SQQQ opened at $50.36 on Friday. ProShares UltraPro Short QQQ has a 1-year low of $26.21 and a 1-year high of $64.95. The company has a fifty day moving average price of $32.84 and a two-hundred day moving average price of $33.09.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a dividend of $0.4823 per share. The ex-dividend date of this dividend was Wednesday, March 26th. This represents a $1.93 annualized dividend and a dividend yield of 3.83%.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently modified their holdings of the company. Peoples Bank KS acquired a new position in ProShares UltraPro Short QQQ during the fourth quarter worth $62,000. Centerpoint Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 20.0% in the 4th quarter. Centerpoint Advisors LLC now owns 6,000 shares of the company’s stock valued at $187,000 after acquiring an additional 1,000 shares in the last quarter. World Investment Advisors LLC increased its holdings in ProShares UltraPro Short QQQ by 51.0% during the 3rd quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock worth $207,000 after purchasing an additional 9,463 shares in the last quarter. Foundations Investment Advisors LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $360,000. Finally, SBI Securities Co. Ltd. bought a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at $423,000.

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.