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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) traded down 5.4% during 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 Price Performance

The stock’s 50 day moving average price is $42.10 and its two-hundred day moving average price is $60.02.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Parallel Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 104.0% during the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares during the last quarter. Larson Financial Group LLC acquired a new stake in ProShares UltraPro Short QQQ in the 4th quarter valued at approximately $29,000. Osaic Holdings Inc. increased its position in ProShares UltraPro Short QQQ by 47.2% in the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after buying an additional 696 shares during the period. FNY Investment Advisers LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 25.7% during the fourth quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock worth $361,000 after buying an additional 1,078 shares during the last quarter. Finally, Sunbelt Securities Inc. acquired a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth approximately $137,000.

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.