ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Significant Decrease in Short Interest

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of a significant decline in short interest in June. As of June 30th, there was short interest totaling 9,195,121 shares, a decline of 39.6% from the June 15th total of 15,229,889 shares. Based on an average daily trading volume, of 64,683,434 shares, the days-to-cover ratio is currently 0.1 days. Approximately 17.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. purchased a new position in shares of ProShares UltraPro Short QQQ during the first quarter valued at approximately $7,668,000. JPMorgan Chase & Co. purchased a new stake in ProShares UltraPro Short QQQ during the second quarter worth approximately $400,000. Cresset Asset Management LLC acquired a new stake in ProShares UltraPro Short QQQ in the 2nd quarter valued at $198,000. Jump Financial LLC acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at about $2,794,000. Finally, Qube Research & Technologies Ltd increased its stake in ProShares UltraPro Short QQQ by 2,856.6% during the 2nd quarter. Qube Research & Technologies Ltd now owns 10,969 shares of the company’s stock worth $215,000 after buying an additional 10,598 shares during the period.

ProShares UltraPro Short QQQ Trading Up 5.5%

Shares of ProShares UltraPro Short QQQ stock opened at $43.15 on Friday. The firm’s 50 day moving average is $39.97 and its two-hundred day moving average is $58.15. ProShares UltraPro Short QQQ has a 52 week low of $35.80 and a 52 week high of $98.85.

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.