ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 3.8% – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) rose 3.8% on Wednesday. The stock traded as high as $35.15 and last traded at $35.2780. 23,927,040 shares changed hands during trading, a decline of 57% from the average session volume of 55,676,371 shares. The stock had previously closed at $33.99.

ProShares UltraPro Short QQQ Stock Up 0.4%

The stock has a fifty day simple moving average of $36.79 and a two-hundred day simple moving average of $43.43.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently modified their holdings of SQQQ. Parallel Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 104.0% in the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock valued at $66,000 after buying an additional 415 shares in the last quarter. Beacon Investment Advisory Services Inc. acquired a new position in ProShares UltraPro Short QQQ during the second quarter worth about $46,000. PayPay Securities Corp raised its stake in ProShares UltraPro Short QQQ by 131.4% during the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock worth $82,000 after acquiring an additional 1,286 shares in the last quarter. Quantinno Capital Management LP bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth about $201,000. Finally, J. Safra Sarasin Holding AG bought a new position in shares of ProShares UltraPro Short QQQ in the first quarter worth about $217,000.

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.