ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sees Large Volume Increase – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) saw strong trading volume on Wednesday . 33,510,240 shares traded hands during mid-day trading, a decline of 42% from the previous session’s volume of 58,077,613 shares.The stock last traded at $42.8210 and had previously closed at $42.67.

ProShares UltraPro Short QQQ Price Performance

The business’s fifty day simple moving average is $50.92 and its two-hundred day simple moving average is $63.40.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in SQQQ. Parallel Advisors LLC increased its stake in shares of ProShares UltraPro Short QQQ by 104.0% during the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares in the last quarter. Quantinno Capital Management LP acquired a new position in ProShares UltraPro Short QQQ during the first quarter worth about $201,000. Hollencrest Capital Management boosted its position in ProShares UltraPro Short QQQ by 99.7% during the first 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 during the last quarter. IMC Chicago LLC boosted its position in ProShares UltraPro Short QQQ by 267.3% during the first 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 during the last quarter. Finally, Nwam LLC acquired a new position in ProShares UltraPro Short QQQ in the 1st quarter valued at about $1,460,000.

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.