ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading 3% Higher Following Dividend Announcement

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price traded up 3% on Wednesday following a dividend announcement from the company. The company traded as high as $34.30 and last traded at $34.53. 36,214,682 shares changed hands during mid-day trading, a decline of 10% from the average session 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 paid a $0.4823 dividend. This represents a $1.93 annualized dividend and a yield of 5.04%. The ex-dividend date of this dividend is Wednesday, March 26th.

ProShares UltraPro Short QQQ Trading Up 8.0 %

The company has a 50-day moving average price of $31.37 and a 200-day moving average price of $33.19.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of SQQQ. RBF Capital LLC raised its holdings 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 worth $12,352,000 after purchasing an additional 1,166,014 shares during the period. Kovitz Investment Group Partners LLC acquired a new stake in ProShares UltraPro Short QQQ during the 3rd quarter worth $1,848,000. Barclays PLC lifted its holdings in ProShares UltraPro Short QQQ by 157.8% during the third quarter. Barclays PLC now owns 203,395 shares of the company’s stock worth $1,503,000 after acquiring an additional 124,500 shares in the last quarter. World Investment Advisors LLC grew its stake in ProShares UltraPro Short QQQ by 51.0% in the third quarter. World Investment Advisors LLC now owns 28,000 shares of the company’s stock valued at $207,000 after acquiring an additional 9,463 shares during the period. Finally, Peoples Bank KS bought a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $62,000.

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.