ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) shares were up 3.8% on Monday. The company traded as high as $35.00 and last traded at $35.0380. Approximately 15,612,113 shares were traded during mid-day trading, a decline of 72% from the average session volume of 56,386,816 shares. The stock had previously closed at $33.75.
ProShares UltraPro Short QQQ Price Performance
The firm’s 50 day simple moving average is $39.27 and its two-hundred day simple moving average is $47.64.
Hedge Funds Weigh In On ProShares UltraPro Short QQQ
A number of institutional investors have recently added to or reduced their stakes in SQQQ. Trivest Advisors Ltd purchased a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth about $14,194,000. IMC Chicago LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 267.3% during the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock worth $65,124,000 after acquiring an additional 588,799 shares during the last quarter. Hamilton Wealth LLC raised its stake in ProShares UltraPro Short QQQ by 1,087.5% during the 4th quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock worth $8,135,000 after acquiring an additional 108,754 shares during the period. Nwam LLC purchased a new position in ProShares UltraPro Short QQQ in the 1st quarter worth approximately $1,460,000. Finally, PayPay Securities Corp increased its position in ProShares UltraPro Short QQQ by 131.4% in the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock worth $82,000 after purchasing an additional 1,286 shares during the last quarter.
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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