ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 4.9% – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price traded down 4.9% during trading on Monday . The company traded as low as $36.09 and last traded at $35.9970. 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 Stock Down 6.8%

The firm’s 50-day simple moving average is $39.88 and its 200-day simple moving average is $48.96.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently made changes to their positions in the company. IMC Chicago LLC increased its holdings in ProShares UltraPro Short QQQ by 267.3% during the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares in the last quarter. Trivest Advisors Ltd bought a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth $14,194,000. Hamilton Wealth LLC increased its stake in shares of ProShares UltraPro Short QQQ by 1,087.5% in the fourth quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock valued at $8,135,000 after buying an additional 108,754 shares in the last quarter. Nwam LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at $1,460,000. Finally, Axxcess Wealth Management LLC bought a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $1,322,000.

ProShares UltraPro Short QQQ Company Profile

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.