ProShares UltraPro Short QQQ Target of Unusually High Options Trading (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of some unusual options trading activity on Friday. Investors purchased 135,029 call options on the company. This is an increase of 56% compared to the average daily volume of 86,504 call options.

Institutional Trading of ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. IMC Chicago LLC boosted its holdings in shares of ProShares UltraPro Short QQQ by 267.3% during the 1st 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 during the last quarter. Jump Financial LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 291.5% in the third 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. Squarepoint Ops LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the second quarter worth about $6,504,000. Goldman Sachs Group Inc. purchased a new stake in shares of ProShares UltraPro Short QQQ in the first quarter worth about $7,668,000. Finally, JPMorgan Chase & Co. lifted its position in shares of ProShares UltraPro Short QQQ by 804.3% in the third quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock worth $2,816,000 after buying an additional 164,440 shares in the last quarter.

ProShares UltraPro Short QQQ Price Performance

Shares of SQQQ stock traded up $1.90 during mid-day trading on Friday, hitting $42.79. The company had a trading volume of 56,630,621 shares, compared to its average volume of 59,675,688. ProShares UltraPro Short QQQ has a 52-week low of $35.80 and a 52-week high of $98.85. The stock’s 50 day moving average price is $39.97 and its 200-day moving average price is $58.15.

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.