ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Should You Buy?

by · The Markets Daily

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s stock price gapped up prior to trading on Thursday. The stock had previously closed at $36.48, but opened at $38.22. ProShares UltraPro Short QQQ shares last traded at $38.2520, with a volume of 13,173,484 shares trading hands.

ProShares UltraPro Short QQQ Trading Up 6.7%

The business’s 50 day moving average price is $36.79 and its 200-day moving average price is $42.21.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently modified their holdings of SQQQ. IMC Chicago LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 267.3% in the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after buying an additional 588,799 shares during the period. Trivest Advisors Ltd purchased a new stake in shares of ProShares UltraPro Short QQQ in the second quarter valued at approximately $14,194,000. Nwam LLC acquired a new position in ProShares UltraPro Short QQQ during the first quarter worth $1,460,000. Hollencrest Capital Management grew its holdings in ProShares UltraPro Short QQQ by 99.7% during the first quarter. Hollencrest Capital Management now owns 12,900 shares of the company’s stock worth $1,038,000 after acquiring an additional 6,440 shares during the period. Finally, Tidal Investments LLC grew its holdings in ProShares UltraPro Short QQQ by 119.8% during the second quarter. Tidal Investments LLC now owns 12,500 shares of the company’s stock worth $463,000 after acquiring an additional 6,813 shares during the period.

About ProShares UltraPro Short QQQ

(Get Free Report)

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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