ProShares UltraPro Short QQQ Target of Unusually High Options Trading (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of unusually large options trading on Friday. Stock traders purchased 135,029 call options on the company. This is an increase of approximately 56% compared to the typical daily volume of 86,504 call options.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently bought and sold shares of SQQQ. Parallel Advisors LLC lifted its position 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 purchasing an additional 415 shares during the last quarter. Larson Financial Group LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 4th quarter worth about $29,000. Osaic Holdings Inc. raised its position in shares of ProShares UltraPro Short QQQ by 47.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares in the last quarter. FNY Investment Advisers LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 25.7% in the 4th quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock valued at $361,000 after acquiring an additional 1,078 shares during the last quarter. Finally, Sunbelt Securities Inc. bought a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at about $137,000.

ProShares UltraPro Short QQQ Stock Up 4.6%

Shares of SQQQ traded up $1.90 during mid-day trading on Friday, hitting $42.79. 56,630,621 shares of the stock were exchanged, compared to its average volume of 59,675,688. ProShares UltraPro Short QQQ has a 52-week low of $35.80 and a 52-week high of $98.85. The firm has a 50-day moving average of $39.97 and a two-hundred day moving average of $58.15.

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.