ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s share price dropped 4.9% on Monday . The stock traded as low as $36.09 and last traded at $35.9970. Approximately 11,516,686 shares traded hands during mid-day trading, a decline of 80% from the average daily volume of 56,496,816 shares. The stock had previously closed at $37.87.
ProShares UltraPro Short QQQ Price Performance
The stock’s 50-day moving average price is $39.88 and its 200-day moving average price is $48.96.
Institutional Trading of ProShares UltraPro Short QQQ
Several hedge funds have recently bought and sold shares of SQQQ. Larson Financial Group LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $29,000. Parallel Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 104.0% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares during the period. Beacon Investment Advisory Services Inc. purchased a new position in ProShares UltraPro Short QQQ during the 2nd quarter valued at about $46,000. PayPay Securities Corp grew its holdings in shares of ProShares UltraPro Short QQQ by 131.4% during the 2nd quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock valued at $82,000 after acquiring an additional 1,286 shares in the last quarter. Finally, Quantinno Capital Management LP acquired a new position in ProShares UltraPro Short QQQ in the first quarter worth approximately $201,000.
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. 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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