ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) shares were down 8.3% on Thursday . The stock traded as low as $45.15 and last traded at $45.34. 15,259,171 shares were traded 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 Trading Down 2.1%
The business’s fifty day moving average price is $40.30 and its 200-day moving average price is $56.45.
Hedge Funds Weigh In On ProShares UltraPro Short QQQ
Hedge funds have recently added to or reduced their stakes in the stock. Goldman Sachs Group Inc. bought a new stake in ProShares UltraPro Short QQQ during the 1st quarter worth approximately $7,668,000. JPMorgan Chase & Co. bought a new position in shares of ProShares UltraPro Short QQQ in the second quarter valued at approximately $400,000. Cresset Asset Management LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the second quarter valued at approximately $198,000. Jump Financial LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the second quarter valued at approximately $2,794,000. Finally, Qube Research & Technologies Ltd grew its holdings in ProShares UltraPro Short QQQ by 2,856.6% during the second quarter. Qube Research & Technologies Ltd now owns 10,969 shares of the company’s stock worth $215,000 after buying an additional 10,598 shares in the last quarter.
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.
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