ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s stock price gapped up prior to trading on Thursday . The stock had previously closed at $34.14, but opened at $34.97. ProShares UltraPro Short QQQ shares last traded at $34.6730, with a volume of 13,903,616 shares trading hands.
ProShares UltraPro Short QQQ Stock Performance
The firm’s 50 day simple moving average is $39.58 and its 200-day simple moving average is $48.18.
Hedge Funds Weigh In On ProShares UltraPro Short QQQ
A number of hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new position in ProShares UltraPro Short QQQ in the 4th quarter worth about $29,000. Parallel Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 104.0% in the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock valued at $66,000 after purchasing an additional 415 shares during the last quarter. Beacon Investment Advisory Services Inc. bought a new position in ProShares UltraPro Short QQQ during the second quarter worth $46,000. PayPay Securities Corp raised its holdings in ProShares UltraPro Short QQQ by 131.4% in 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 bought a new position in shares of ProShares UltraPro Short QQQ during the 1st quarter worth about $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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