ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Large Growth in Short Interest

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of a large increase in short interest during the month of May. As of May 29th, there was short interest totaling 14,039,124 shares, an increase of 80.2% from the May 14th total of 7,789,710 shares. Based on an average daily volume of 61,410,786 shares, the short-interest ratio is currently 0.2 days. Currently, 24.9% of the company’s shares are short sold.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Large investors have recently modified their holdings of the business. Larson Financial Group LLC acquired a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $29,000. Parallel Advisors LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 104.0% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock valued at $66,000 after purchasing an additional 415 shares during the last quarter. Sunbelt Securities Inc. acquired a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $137,000. Osaic Holdings Inc. lifted its stake in shares of ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares during the last quarter. Finally, Quantinno Capital Management LP acquired a new position in shares of ProShares UltraPro Short QQQ in the 1st quarter valued at $201,000.

ProShares UltraPro Short QQQ Stock Performance

Shares of ProShares UltraPro Short QQQ stock traded up $1.37 during trading hours on Tuesday, hitting $37.68. The company’s stock had a trading volume of 26,188,495 shares, compared to its average volume of 59,378,699. ProShares UltraPro Short QQQ has a twelve month low of $36.15 and a twelve month high of $115.80. The firm has a fifty day moving average of $49.35 and a 200-day moving average of $62.92.

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.