ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s share price gapped up before the market opened on Wednesday. The stock had previously closed at $31.83, but opened at $32.58. ProShares UltraPro Short QQQ shares last traded at $32.5150, with a volume of 16,083,130 shares.
ProShares UltraPro Short QQQ Stock Performance
The stock has a 50-day moving average of $37.90 and a 200 day moving average of $45.70.
Institutional Investors Weigh In On ProShares UltraPro Short QQQ
Hedge funds have recently modified their holdings of the company. Parallel Advisors LLC boosted its holdings in ProShares UltraPro Short QQQ by 104.0% in the 1st 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. purchased a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at approximately $46,000. PayPay Securities Corp lifted its holdings 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 valued at $82,000 after acquiring an additional 1,286 shares during the last quarter. Quantinno Capital Management LP purchased a new position in ProShares UltraPro Short QQQ in the first quarter worth approximately $201,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in ProShares UltraPro Short QQQ during the first quarter worth $217,000.
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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