ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Up – Here’s Why

by · The Markets Daily

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report)’s stock price gapped up before the market opened on Thursday. The stock had previously closed at $36.00, but opened at $37.57. ProShares UltraPro Short QQQ shares last traded at $37.3490, with a volume of 16,558,412 shares.

ProShares UltraPro Short QQQ Stock Performance

The firm has a 50-day moving average price of $36.85 and a two-hundred day moving average price of $43.79.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of SQQQ. Beacon Investment Advisory Services Inc. acquired a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $46,000. Parallel Advisors LLC raised its stake in ProShares UltraPro Short QQQ by 104.0% during the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after acquiring an additional 415 shares in the last quarter. PayPay Securities Corp lifted its position in ProShares UltraPro Short QQQ by 131.4% in the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock valued at $82,000 after acquiring an additional 1,286 shares during the last quarter. Ramsey Quantitative Systems purchased a new stake in ProShares UltraPro Short QQQ in the second quarter valued at $102,000. Finally, Eastern Bank purchased a new stake in ProShares UltraPro Short QQQ in the second quarter valued at $129,000.

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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