ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 4.9% – Here’s What Happened

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) fell 4.9% during trading on Monday . The stock traded as low as $36.09 and last traded at $35.9970. Approximately 11,516,686 shares changed hands during mid-day trading, a decline of 80% from the average daily volume of 56,496,816 shares. The stock had previously closed at $37.87.

ProShares UltraPro Short QQQ Stock Down 2.4%

The company has a fifty day simple moving average of $39.68 and a two-hundred day simple moving average of $48.43.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Several large investors have recently added to or reduced their stakes in the business. IMC Chicago LLC grew its holdings in ProShares UltraPro Short QQQ by 267.3% in the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after buying an additional 588,799 shares during the period. Trivest Advisors Ltd purchased a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth about $14,194,000. Hamilton Wealth LLC boosted its position in shares of ProShares UltraPro Short QQQ by 1,087.5% in the fourth quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock worth $8,135,000 after acquiring an additional 108,754 shares during the last quarter. Axxcess Wealth Management LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $1,322,000. Finally, Nwam LLC purchased a new stake in ProShares UltraPro Short QQQ in the first quarter valued at approximately $1,460,000.

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.