Traders Purchase Large Volume of ProShares UltraPro Short QQQ Call Options (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw some unusual options trading on Friday. Investors acquired 124,632 call options on the stock. This represents an increase of approximately 43% compared to the typical volume of 87,216 call options.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the stock. IMC Chicago LLC lifted its stake in ProShares UltraPro Short QQQ by 267.3% in the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after acquiring an additional 588,799 shares during the last quarter. Trivest Advisors Ltd acquired a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth about $14,194,000. Hamilton Wealth LLC increased its stake in shares of ProShares UltraPro Short QQQ by 1,087.5% during the 4th quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock worth $8,135,000 after purchasing an additional 108,754 shares during the last quarter. Nwam LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 1st quarter valued at about $1,460,000. Finally, Hollencrest Capital Management raised its holdings in shares of ProShares UltraPro Short QQQ by 99.7% in the 1st quarter. Hollencrest Capital Management now owns 12,900 shares of the company’s stock valued at $1,038,000 after purchasing an additional 6,440 shares during the period.

ProShares UltraPro Short QQQ Price Performance

Shares of NASDAQ:SQQQ traded up $2.76 during midday trading on Friday, reaching $38.90. The company had a trading volume of 60,071,413 shares, compared to its average volume of 55,902,746. ProShares UltraPro Short QQQ has a 1-year low of $31.42 and a 1-year high of $90.71. The business’s 50 day moving average price is $36.79 and its 200 day moving average price is $43.43.

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.