ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Share Price Cross Below Fifty Day Moving Average – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) crossed below its fifty day moving average during trading on Tuesday. The stock has a fifty day moving average of $36.95 and traded as low as $36.67. ProShares UltraPro Short QQQ shares last traded at $36.93, with a volume of 38,356,632 shares.

ProShares UltraPro Short QQQ Stock Performance

The business’s 50 day moving average price is $36.89 and its 200 day moving average price is $50.37.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the business. IMC Chicago LLC increased its holdings in shares of 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 buying an additional 588,799 shares in the last quarter. Trivest Advisors Ltd acquired a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth approximately $14,194,000. Nwam LLC bought a new stake in ProShares UltraPro Short QQQ during the 1st quarter worth approximately $1,460,000. Corient Private Wealth LP grew its position in ProShares UltraPro Short QQQ by 283.4% during the 2nd quarter. Corient Private Wealth LP now owns 12,253 shares of the company’s stock worth $445,000 after acquiring an additional 9,057 shares during the last quarter. Finally, Tidal Investments LLC grew its position in ProShares UltraPro Short QQQ by 119.8% during the 2nd quarter. Tidal Investments LLC now owns 12,500 shares of the company’s stock worth $463,000 after acquiring an additional 6,813 shares during the last quarter.

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.