ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 4.5% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price traded down 4.5% on Tuesday . The stock traded as low as $40.66 and last traded at $40.7750. 16,031,005 shares traded hands during trading, a decline of 73% from the average session volume of 59,253,508 shares. The stock had previously closed at $42.68.

ProShares UltraPro Short QQQ Stock Down 5.8%

The stock has a fifty day simple moving average of $39.99 and a 200-day simple moving average of $57.81.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of SQQQ. Larson Financial Group LLC acquired a new position in ProShares UltraPro Short QQQ during the 4th quarter valued at $29,000. Parallel Advisors LLC grew its position in ProShares UltraPro Short QQQ by 104.0% in the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares during the last quarter. Sunbelt Securities Inc. bought a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth about $137,000. Osaic Holdings Inc. increased its holdings in shares of ProShares UltraPro Short QQQ by 47.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares during the period. Finally, Quantinno Capital Management LP acquired a new position in shares of ProShares UltraPro Short QQQ during the first quarter valued at about $201,000.

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.