ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Trading Down 7.8%

ProShares UltraPro Short QQQ (NASDAQ:SQQQGet Rating)’s stock price dropped 7.8% during trading on Tuesday . The stock traded as low as $58.75 and last traded at $58.97. Approximately 807,285 shares traded hands during trading, a decline of 99% from the average daily volume of 101,796,078 shares. The stock had previously closed at $63.96.

The company has a fifty day moving average of $50.45 and a 200 day moving average of $42.71.

Large investors have recently made changes to their positions in the stock. SCEP Management Ltd acquired a new position in ProShares UltraPro Short QQQ in the fourth quarter worth approximately $57,785,000. B. Riley Financial Inc. acquired a new position in ProShares UltraPro Short QQQ in the fourth quarter worth approximately $29,700,000. Citigroup Inc. acquired a new position in ProShares UltraPro Short QQQ in the first quarter worth approximately $126,044,000. IMC Chicago LLC grew its position in ProShares UltraPro Short QQQ by 1.0% in the fourth quarter. IMC Chicago LLC now owns 1,168,645 shares of the company’s stock worth $6,942,000 after buying an additional 11,070 shares during the last quarter. Finally, Prentice Capital Management LP acquired a new position in ProShares UltraPro Short QQQ in the first quarter worth approximately $10,101,000.

ProShares UltraPro Short QQQ Company Profile (NASDAQ:SQQQ)

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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