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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of some unusual options trading activity on Friday. Investors acquired 367,664 call options on the stock. This is an increase of approximately 59% compared to the average volume of 230,647 call options.

ProShares UltraPro Short QQQ Price Performance

Shares of SQQQ opened at $12.84 on Friday. ProShares UltraPro Short QQQ has a twelve month low of $10.05 and a twelve month high of $32.73. The company’s fifty day simple moving average is $11.03 and its 200-day simple moving average is $14.19.

ProShares UltraPro Short QQQ Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, March 27th. Stockholders of record on Thursday, March 21st were issued a $0.164 dividend. The ex-dividend date was Wednesday, March 20th.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in SQQQ. Envestnet Asset Management Inc. bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth about $307,000. Goldman Sachs Group Inc. bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth about $2,001,000. Bank of America Corp DE bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth about $1,566,000. Renaissance Technologies LLC bought a new position in shares of ProShares UltraPro Short QQQ in the second quarter worth about $8,848,000. Finally, Creative Planning bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth about $260,000.

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.