ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Down 8.3% – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) fell 8.3% on Thursday . The company traded as low as $45.15 and last traded at $45.34. 15,259,171 shares were traded during mid-day trading, a decline of 74% from the average session volume of 58,877,969 shares. The stock had previously closed at $49.44.

ProShares UltraPro Short QQQ Stock Performance

The stock’s 50 day simple moving average is $40.21 and its 200-day simple moving average is $56.68.

Institutional Trading of ProShares UltraPro Short QQQ

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraPro Short QQQ in the 4th quarter valued at $15,090,000. JPMorgan Chase & Co. grew its stake in ProShares UltraPro Short QQQ by 804.3% during the third quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company’s stock worth $2,816,000 after buying an additional 164,440 shares during the period. Hamilton Wealth LLC increased its position in shares of ProShares UltraPro Short QQQ by 1,087.5% in the fourth quarter. Hamilton Wealth LLC now owns 118,754 shares of the company’s stock worth $8,135,000 after acquiring an additional 108,754 shares in the last quarter. Capstone Capital Management Ltd acquired a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at $1,172,000. Finally, Nwam LLC purchased a new stake in ProShares UltraPro Short QQQ during the 1st quarter worth $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.