Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) rose 6.3% on Monday . The stock traded as high as $40.04 and last traded at $40.16. Approximately 41,586,855 shares traded hands during mid-day trading, a decline of 30% from the average daily volume of 59,775,082 shares. The stock had previously closed at $37.78.
ProShares UltraPro Short QQQ Stock Up 5.4%
The stock’s 50 day moving average is $40.64 and its two-hundred day moving average is $58.88.
Institutional Investors Weigh In On ProShares UltraPro Short QQQ
Several hedge funds have recently modified their holdings of SQQQ. IMC Chicago LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 267.3% during the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares in the last quarter. Flow Traders U.S. LLC raised its stake in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock worth $10,241,000 after buying an additional 421,972 shares in the last quarter. Jump Financial LLC raised its stake in ProShares UltraPro Short QQQ by 291.5% in the third quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock worth $8,512,000 after buying an additional 416,119 shares in the last quarter. Squarepoint Ops LLC purchased a new stake in ProShares UltraPro Short QQQ during the second quarter worth $6,504,000. Finally, Goldman Sachs Group Inc. bought a new stake in ProShares UltraPro Short QQQ during the 1st quarter valued at $7,668,000.
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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.
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