ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Short Interest Up 80.2% in May

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of a large growth in short interest during the month of May. As of May 29th, there was short interest totaling 14,039,124 shares, a growth of 80.2% from the May 14th total of 7,789,710 shares. Currently, 24.9% of the shares of the stock are short sold. Based on an average trading volume of 61,410,786 shares, the days-to-cover ratio is currently 0.2 days.

ProShares UltraPro Short QQQ Stock Performance

Shares of NASDAQ SQQQ traded down $3.75 during mid-day trading on Monday, reaching $36.29. The company had a trading volume of 44,508,018 shares, compared to its average volume of 59,538,516. The company has a 50-day moving average price of $50.17 and a two-hundred day moving average price of $63.17. ProShares UltraPro Short QQQ has a 1-year low of $36.15 and a 1-year high of $115.80.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of the business. Quadrature Capital Ltd purchased a new position in shares of ProShares UltraPro Short QQQ during the third quarter valued at $33,368,000. IMC Chicago LLC grew its stake in ProShares UltraPro Short QQQ by 267.3% in the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares in the last quarter. Citigroup Inc. grew its stake in ProShares UltraPro Short QQQ by 17.5% in the third quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock valued at $10,878,000 after purchasing an additional 106,243 shares in the last quarter. Flow Traders U.S. LLC grew its stake in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after purchasing an additional 421,972 shares in the last quarter. Finally, Smithfield Trust Co grew its stake in ProShares UltraPro Short QQQ by 330.6% in the third quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock valued at $8,523,000 after purchasing an additional 429,640 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.