ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 5.4% – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price traded down 5.4% during mid-day trading on Monday . The stock traded as low as $37.75 and last traded at $37.7990. 27,620,121 shares were traded during trading, a decline of 54% from the average daily volume of 59,872,605 shares. The stock had previously closed at $39.95.

ProShares UltraPro Short QQQ Stock Down 4.6%

The company has a 50 day moving average of $42.10 and a 200 day moving average of $60.02.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Eastern Bank acquired a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter valued at $129,000. Parallel Advisors LLC raised its holdings 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 in the last quarter. Quantinno Capital Management LP acquired a new stake in shares of ProShares UltraPro Short QQQ in the first quarter worth about $201,000. Hollencrest Capital Management boosted its stake in shares of ProShares UltraPro Short QQQ by 99.7% during the 1st quarter. Hollencrest Capital Management now owns 12,900 shares of the company’s stock worth $1,038,000 after acquiring an additional 6,440 shares in the last quarter. Finally, IMC Chicago LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 267.3% during the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock worth $65,124,000 after acquiring an additional 588,799 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.