ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 6.4% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price dropped 6.4% during mid-day trading on Monday . The stock traded as low as $38.72 and last traded at $38.6550. Approximately 53,184,163 shares were traded during mid-day trading, a decline of 11% from the average session volume of 60,013,246 shares. The stock had previously closed at $41.31.

ProShares UltraPro Short QQQ Stock Down 7.3%

The stock has a 50 day simple moving average of $43.94 and a 200 day simple moving average of $61.07.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. Sollinda Capital Management LLC acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter valued at about $3,435,000. CreativeOne Wealth LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth about $831,000. Citigroup Inc. raised its holdings in shares of ProShares UltraPro Short QQQ by 17.5% in the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock worth $10,878,000 after acquiring an additional 106,243 shares during the last quarter. Intellectus Partners LLC bought a new position in ProShares UltraPro Short QQQ in the 3rd quarter valued at about $381,000. Finally, Flow Traders U.S. LLC lifted its position in ProShares UltraPro Short QQQ by 168.5% in the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after acquiring an additional 421,972 shares in the last quarter.

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.