Investors Buy High Volume of Call Options on ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of unusually large options trading activity on Thursday. Traders acquired 121,383 call options on the stock. This is an increase of approximately 47% compared to the typical volume of 82,817 call options.

Institutional Trading of ProShares UltraPro Short QQQ

Large investors have recently bought and sold shares of the business. Parallel Advisors LLC lifted its stake in ProShares UltraPro Short QQQ by 104.0% in the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock valued at $66,000 after acquiring an additional 415 shares during the last quarter. Beacon Investment Advisory Services Inc. bought a new position in ProShares UltraPro Short QQQ during the 2nd quarter worth $46,000. PayPay Securities Corp raised its stake in ProShares UltraPro Short QQQ by 131.4% in the 2nd quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock worth $82,000 after purchasing an additional 1,286 shares in the last quarter. Quantinno Capital Management LP acquired a new position in shares of ProShares UltraPro Short QQQ during the 1st quarter worth approximately $201,000. Finally, J. Safra Sarasin Holding AG acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at approximately $217,000.

ProShares UltraPro Short QQQ Trading Up 17.6%

Shares of NASDAQ SQQQ traded up $7.32 during trading hours on Thursday, hitting $48.88. The stock had a trading volume of 72,525,486 shares, compared to its average volume of 55,710,141. The firm’s 50-day moving average price is $37.13 and its two-hundred day moving average price is $49.90. ProShares UltraPro Short QQQ has a 52 week low of $31.42 and a 52 week high of $90.71.

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.