Stock Traders Purchase Large Volume of ProShares UltraPro Short QQQ Call Options (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw some unusual options trading activity on Friday. Traders bought 124,632 call options on the company. This is an increase of approximately 43% compared to the typical daily volume of 87,216 call options.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently made changes to their positions in the stock. IMC Chicago LLC increased its holdings in 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 purchasing an additional 588,799 shares during the last quarter. Trivest Advisors Ltd purchased a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $14,194,000. Hamilton Wealth LLC lifted its stake in ProShares UltraPro Short QQQ by 1,087.5% during the 4th quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock worth $8,135,000 after acquiring an additional 108,754 shares in the last quarter. Nwam LLC acquired a new position in ProShares UltraPro Short QQQ during the 1st quarter worth about $1,460,000. Finally, Corient Private Wealth LP boosted its holdings in ProShares UltraPro Short QQQ by 283.4% during the 2nd quarter. Corient Private Wealth LP now owns 12,253 shares of the company’s stock valued at $445,000 after acquiring an additional 9,057 shares during the period.

ProShares UltraPro Short QQQ Trading Up 7.6%

SQQQ stock traded up $2.76 during mid-day trading on Friday, hitting $38.90. 60,153,625 shares of the company were exchanged, compared to its average volume of 55,904,484. ProShares UltraPro Short QQQ has a 12-month low of $31.42 and a 12-month high of $90.71. The business has a fifty day simple moving average of $36.82 and a 200-day simple moving average of $43.40.

ProShares UltraPro Short QQQ Company Profile

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.