ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Sees Heavy Call Option Buying

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the recipient of unusually large options trading on Thursday. Stock investors bought 121,383 call options on the company. This is an increase of 47% compared to the typical volume of 82,817 call options.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. IMC Chicago LLC increased its stake in shares of ProShares UltraPro Short QQQ by 267.3% in the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock worth $65,124,000 after acquiring an additional 588,799 shares during the period. Trivest Advisors Ltd acquired a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth $14,194,000. Nwam LLC acquired a new position in ProShares UltraPro Short QQQ in the 1st quarter valued at about $1,460,000. Hollencrest Capital Management increased its position in shares of ProShares UltraPro Short QQQ by 99.7% during the 1st quarter. Hollencrest Capital Management now owns 12,900 shares of the company’s stock worth $1,038,000 after purchasing an additional 6,440 shares during the last quarter. Finally, Tidal Investments LLC lifted its stake in ProShares UltraPro Short QQQ by 119.8% during the second quarter. Tidal Investments LLC now owns 12,500 shares of the company’s stock worth $463,000 after purchasing an additional 6,813 shares in the last quarter.

ProShares UltraPro Short QQQ Stock Up 17.6%

SQQQ traded up $7.32 during midday trading on Thursday, hitting $48.88. The stock had a trading volume of 72,525,486 shares, compared to its average volume of 55,710,141. The business has a fifty day moving average of $37.13 and a 200 day moving average of $49.90. ProShares UltraPro Short QQQ has a 1 year low of $31.42 and a 1 year high of $90.71.

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.