Smithfield Trust Co Sells 142,240 Shares of ProShares UltraPro Short QQQ $SQQQ

Smithfield Trust Co trimmed its holdings in ProShares UltraPro Short QQQ (NASDAQ:SQQQ) by 52.3% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 129,960 shares of the company’s stock after selling 142,240 shares during the period. Smithfield Trust Co’s holdings in ProShares UltraPro Short QQQ were worth $2,543,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. bought a new position in ProShares UltraPro Short QQQ in the 1st quarter valued at $7,668,000. Private Advisor Group LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the first quarter valued at $563,000. Summit Financial LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the first quarter valued at $1,030,000. Lane Generational LLC bought a new position in shares of ProShares UltraPro Short QQQ in the second quarter worth about $4,187,000. Finally, Flow Traders U.S. LLC purchased a new position in ProShares UltraPro Short QQQ in the 1st quarter worth about $2,512,000.

ProShares UltraPro Short QQQ Trading Up 0.3%

Shares of SQQQ opened at $13.63 on Thursday. ProShares UltraPro Short QQQ has a 1-year low of $12.68 and a 1-year high of $57.80. The company has a 50-day moving average of $15.00 and a 200 day moving average of $19.11.

Shares of ProShares UltraPro Short QQQ are set to reverse split before the market opens on Thursday, November 20th. The 1-5 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 19th.

ProShares UltraPro Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, September 30th. Investors of record on Wednesday, September 24th were issued a $0.2427 dividend. The ex-dividend date was Wednesday, September 24th. This represents a $0.97 dividend on an annualized basis and a dividend yield of 7.1%.

ProShares UltraPro Short QQQ Company Profile

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.