Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) dropped 7.4% during trading on Monday. The company traded as low as $44.01 and last traded at $44.1690. Approximately 15,458,685 shares were traded during trading, a decline of 72% from the average session volume of 55,825,582 shares. The stock had previously closed at $47.70.
ProShares UltraPro Short QQQ Stock Performance
The firm’s 50-day moving average is $37.71 and its two-hundred day moving average is $49.46.
Institutional Investors Weigh In On ProShares UltraPro Short QQQ
Several large investors have recently bought and sold shares of the company. Beacon Investment Advisory Services Inc. purchased a new position in shares of ProShares UltraPro Short QQQ in the second quarter valued at approximately $46,000. Parallel Advisors LLC increased its position in shares of ProShares UltraPro Short QQQ by 104.0% during the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares in the last quarter. PayPay Securities Corp increased its position in shares of ProShares UltraPro Short QQQ by 131.4% during the second 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. Ramsey Quantitative Systems acquired a new position in ProShares UltraPro Short QQQ in the 2nd quarter valued at $102,000. Finally, Eastern Bank acquired a new position in ProShares UltraPro Short QQQ in the 2nd quarter valued at $129,000.
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.
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