ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Down 8.3% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price traded down 8.3% during mid-day trading on Thursday . The stock traded as low as $45.15 and last traded at $45.34. 15,259,171 shares changed hands during trading, a decline of 74% from the average daily volume of 58,877,969 shares. The stock had previously closed at $49.44.

ProShares UltraPro Short QQQ Price Performance

The business’s 50-day simple moving average is $40.21 and its two-hundred day simple moving average is $56.68.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the business. JPMorgan Chase & Co. increased its holdings in ProShares UltraPro Short QQQ by 804.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock worth $2,816,000 after purchasing an additional 164,440 shares during the last quarter. IMC Chicago LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at approximately $15,090,000. Hamilton Wealth LLC boosted 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 valued at $8,135,000 after buying an additional 108,754 shares during the last quarter. Capstone Capital Management Ltd acquired a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $1,172,000. Finally, Nwam LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the first quarter worth approximately $1,460,000.

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.