Traders Purchase Large Volume of ProShares UltraPro Short QQQ Call Options (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw unusually large options trading on Friday. Stock investors bought 124,632 call options on the company. This represents an increase of 43% compared to the typical volume of 87,216 call options.

ProShares UltraPro Short QQQ Trading Up 7.6%

SQQQ stock traded up $2.76 on Friday, reaching $38.90. 60,071,413 shares of the company were exchanged, compared to its average volume of 55,902,746. ProShares UltraPro Short QQQ has a 12 month low of $31.42 and a 12 month high of $90.71. The stock’s fifty day moving average price is $36.79 and its 200 day moving average price is $43.43.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds have recently made changes to their positions in SQQQ. Parallel Advisors LLC raised its holdings 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. acquired a new position in ProShares UltraPro Short QQQ during the second quarter worth $46,000. PayPay Securities Corp boosted its holdings in ProShares UltraPro Short QQQ by 131.4% during 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. Quantinno Capital Management LP bought a new position in ProShares UltraPro Short QQQ in the first quarter valued at $201,000. Finally, J. Safra Sarasin Holding AG bought a new position in ProShares UltraPro Short QQQ in the first quarter valued at $217,000.

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.