Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) gapped down before the market opened on Monday . The stock had previously closed at $40.04, but opened at $37.25. ProShares UltraPro Short QQQ shares last traded at $36.8560, with a volume of 15,744,873 shares.
ProShares UltraPro Short QQQ Stock Up 5.6%
The stock’s 50 day moving average price is $48.57 and its 200-day moving average price is $62.69.
Institutional Inflows and Outflows
A number of institutional investors and hedge funds have recently modified their holdings of SQQQ. Larson Financial Group LLC purchased a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $29,000. Parallel Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of ProShares UltraPro Short QQQ by 47.2% during the second 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 period. FNY Investment Advisers LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the third quarter valued at approximately $63,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of ProShares UltraPro Short QQQ in the fourth quarter worth $137,000.
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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