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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of a significant growth in short interest during the month of May. As of May 29th, there was short interest totaling 14,039,124 shares, a growth 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 days-to-cover ratio is presently 0.2 days. Currently, 24.9% of the shares of the company are short sold.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the business. Larson Financial Group LLC purchased a new position in ProShares UltraPro Short QQQ in the fourth quarter worth $29,000. Parallel Advisors LLC raised its position in ProShares UltraPro Short QQQ by 104.0% in the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after acquiring an additional 415 shares in the last quarter. Sunbelt Securities Inc. purchased a new position in ProShares UltraPro Short QQQ in the fourth quarter worth $137,000. Osaic Holdings Inc. raised its position in ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after acquiring an additional 696 shares in the last quarter. Finally, Quantinno Capital Management LP purchased a new position in ProShares UltraPro Short QQQ in the first quarter worth $201,000.

ProShares UltraPro Short QQQ Stock Performance

ProShares UltraPro Short QQQ stock opened at $38.35 on Wednesday. ProShares UltraPro Short QQQ has a 12 month low of $36.15 and a 12 month high of $115.80. The business has a 50 day simple moving average of $48.57 and a 200-day simple moving average of $62.69.

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.