ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s stock price gapped up prior to trading on Tuesday . The stock had previously closed at $36.42, but opened at $37.87. ProShares UltraPro Short QQQ shares last traded at $37.9760, with a volume of 12,440,667 shares changing hands.
ProShares UltraPro Short QQQ Stock Up 0.7%
The company’s 50 day simple moving average is $39.77 and its 200 day simple moving average is $53.82.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $29,000. Parallel Advisors LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after acquiring an additional 1,022 shares in the last quarter. Osaic Holdings Inc. boosted 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 purchasing an additional 696 shares during the period. Ramsey Quantitative Systems acquired a new stake in ProShares UltraPro Short QQQ in the 2nd quarter valued at $102,000. Finally, Eastern Bank purchased a new position in ProShares UltraPro Short QQQ in the second quarter valued at about $129,000.
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.
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