ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 4.1% – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 4.1% on Wednesday . The stock traded as low as $42.20 and last traded at $42.5440. Approximately 32,743,619 shares were traded during mid-day trading, a decline of 42% from the average daily volume of 56,220,078 shares. The stock had previously closed at $44.37.

ProShares UltraPro Short QQQ Price Performance

The company has a 50-day moving average price of $63.46 and a two-hundred day moving average price of $67.12.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Large investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at $29,000. Parallel Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 104.0% during 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 during the period. Sunbelt Securities Inc. bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at $137,000. Osaic Holdings Inc. boosted its stake in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares during the period. Finally, Quantinno Capital Management LP bought a new stake in ProShares UltraPro Short QQQ during the first quarter valued at $201,000.

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.