ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 5.4% – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 5.4% during mid-day trading on Monday . The company traded as low as $37.75 and last traded at $37.7990. 27,620,121 shares were traded during trading, a decline of 54% from the average daily volume of 59,872,605 shares. The stock had previously closed at $39.95.

ProShares UltraPro Short QQQ Stock Up 0.0%

The company has a 50 day simple moving average of $41.51 and a 200-day simple moving average of $59.54.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in ProShares UltraPro Short QQQ during the third quarter worth about $33,368,000. IMC Chicago LLC grew 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 purchasing an additional 588,799 shares in the last quarter. Flow Traders U.S. LLC grew its stake in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after purchasing an additional 421,972 shares in the last quarter. Jump Financial LLC increased its position in shares of ProShares UltraPro Short QQQ by 291.5% during the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock worth $8,512,000 after purchasing an additional 416,119 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $6,504,000.

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.