ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Shares Gap Down – Time to Sell?

by · The Markets Daily

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Free Report) gapped down prior to trading on Wednesday. The stock had previously closed at $43.56, but opened at $41.13. ProShares UltraPro Short QQQ shares last traded at $41.2360, with a volume of 12,545,000 shares trading hands.

ProShares UltraPro Short QQQ Stock Down 8.4%

The stock’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 modified their holdings of the business. Parallel Advisors LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 104.0% in the 1st 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 period. Beacon Investment Advisory Services Inc. purchased a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth $46,000. PayPay Securities Corp lifted its stake in shares of ProShares UltraPro Short QQQ by 131.4% during 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 during the last quarter. Quantinno Capital Management LP bought a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $201,000. Finally, J. Safra Sarasin Holding AG bought a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $217,000.

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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