ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 4.5% – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price dropped 4.5% during mid-day trading on Tuesday . The company traded as low as $40.66 and last traded at $40.7750. Approximately 16,031,005 shares were traded during mid-day trading, a decline of 73% from the average session volume of 59,253,508 shares. The stock had previously closed at $42.68.

ProShares UltraPro Short QQQ Trading Down 5.8%

The company has a fifty day simple moving average of $39.99 and a two-hundred day simple moving average of $57.81.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Large investors have recently added to or reduced their stakes in the stock. Larson Financial Group LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth $29,000. Parallel Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after acquiring an additional 1,022 shares during the last quarter. Osaic Holdings Inc. lifted its position in ProShares UltraPro Short QQQ by 47.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after acquiring an additional 696 shares during the last quarter. Ramsey Quantitative Systems bought a new stake in ProShares UltraPro Short QQQ during the second quarter valued at about $102,000. Finally, Eastern Bank acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at about $129,000.

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.