ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Rating) was the target of some unusual options trading activity on Friday. Stock investors purchased 178,007 call options on the company. This is an increase of approximately 39% compared to the average volume of 127,794 call options.
ProShares UltraPro Short QQQ Stock Down 5.5 %
Shares of SQQQ traded down $2.30 during mid-day trading on Friday, reaching $39.83. 117,838,164 shares of the stock traded hands, compared to its average volume of 102,672,227. The firm has a fifty day moving average price of $53.15 and a 200 day moving average price of $46.67. ProShares UltraPro Short QQQ has a 1 year low of $28.15 and a 1 year high of $67.69.
Institutional Inflows and Outflows
Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. SkyOak Wealth LLC purchased a new position in ProShares UltraPro Short QQQ in the first quarter worth $438,000. SCEP Management Ltd purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter valued at about $57,785,000. FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $336,000. Brave Asset Management Inc. boosted its position in ProShares UltraPro Short QQQ by 87.8% during the first quarter. Brave Asset Management Inc. now owns 150,218 shares of the company’s stock valued at $5,058,000 after buying an additional 70,218 shares during the period. Finally, Avaii Wealth Management LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $828,000.
ProShares UltraPro Short QQQ Company Profile
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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.
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