ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) was the target of a large decline in short interest in June. As of June 30th, there was short interest totaling 9,195,121 shares, a decline of 39.6% from the June 15th total of 15,229,889 shares. Based on an average daily volume of 64,683,434 shares, the days-to-cover ratio is currently 0.1 days. Approximately 17.1% of the shares of the company are sold short.
Institutional Investors Weigh In On ProShares UltraPro Short QQQ
A number of large investors have recently added to or reduced their stakes in SQQQ. Sollinda Capital Management LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $3,435,000. JPMorgan Chase & Co. lifted its position in ProShares UltraPro Short QQQ by 804.3% during the third quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock worth $2,816,000 after purchasing an additional 164,440 shares during the period. IMC Chicago LLC acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $15,090,000. Chelsea Counsel Co. acquired a new stake in ProShares UltraPro Short QQQ during the third quarter worth about $631,000. Finally, Cantor Fitzgerald L. P. increased its holdings in ProShares UltraPro Short QQQ by 38.3% in the 3rd quarter. Cantor Fitzgerald L. P. now owns 61,142 shares of the company’s stock valued at $931,000 after buying an additional 16,944 shares during the period.
ProShares UltraPro Short QQQ Stock Performance
Shares of NASDAQ:SQQQ traded up $1.14 on Thursday, reaching $40.08. 23,624,875 shares of the company’s stock were exchanged, compared to its average volume of 59,438,945. ProShares UltraPro Short QQQ has a twelve month low of $35.80 and a twelve month high of $98.85. The company has a fifty day moving average of $40.07 and a 200-day moving average of $58.32.
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. 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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