ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s stock price dropped 7.4% during trading on Monday. The stock traded as low as $44.01 and last traded at $44.1690. Approximately 15,458,685 shares changed hands during mid-day trading, a decline of 72% from the average daily volume of 55,825,582 shares. The stock had previously closed at $47.70.
ProShares UltraPro Short QQQ Stock Down 9.5%
The stock has a 50 day moving average price of $37.53 and a 200 day moving average price of $49.70.
Hedge Funds Weigh In On ProShares UltraPro Short QQQ
Several large investors have recently bought and sold shares of SQQQ. Parallel Advisors LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 104.0% during 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 in the last quarter. Beacon Investment Advisory Services Inc. bought a new position in shares of ProShares UltraPro Short QQQ during the second quarter valued at $46,000. PayPay Securities Corp lifted its holdings in shares of 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 period. Quantinno Capital Management LP acquired a new position in shares of ProShares UltraPro Short QQQ during the first quarter worth $201,000. Finally, J. Safra Sarasin Holding AG bought a new stake in shares of ProShares UltraPro Short QQQ in the first quarter worth $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.
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