ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) gapped up before the market opened on Wednesday. The stock had previously closed at $31.83, but opened at $32.58. ProShares UltraPro Short QQQ shares last traded at $32.5150, with a volume of 16,083,130 shares traded.

ProShares UltraPro Short QQQ Stock Performance

The stock has a 50-day moving average price of $37.33 and a 200 day moving average price of $45.06.

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors have recently bought and sold shares of the business. Parallel Advisors LLC raised its position in ProShares UltraPro Short QQQ by 104.0% during the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after acquiring an additional 415 shares during the period. Beacon Investment Advisory Services Inc. acquired a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at about $46,000. PayPay Securities Corp increased its stake in shares of ProShares UltraPro Short QQQ by 131.4% during the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock worth $82,000 after purchasing an additional 1,286 shares in the last quarter. Quantinno Capital Management LP acquired a new stake in ProShares UltraPro Short QQQ in the 1st quarter worth about $201,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in ProShares UltraPro Short QQQ in the 1st quarter worth about $217,000.

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.