ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Sees Unusually High Call Option Buying

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the recipient of some unusual options trading on Friday. Investors bought 124,632 call options on the stock. This represents an increase of approximately 43% compared to the typical daily volume of 87,216 call options.

ProShares UltraPro Short QQQ Trading Up 7.6%

Shares of ProShares UltraPro Short QQQ stock opened at $38.90 on Friday. ProShares UltraPro Short QQQ has a 1 year low of $31.42 and a 1 year high of $90.71. The firm’s 50-day moving average is $36.82 and its two-hundred day moving average is $43.40.

Institutional Trading of ProShares UltraPro Short QQQ

A number of hedge funds have recently bought and sold shares of the stock. IMC Chicago LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 267.3% in the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after acquiring an additional 588,799 shares during the period. Trivest Advisors Ltd bought a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth $14,194,000. Hamilton Wealth LLC raised its position in shares of ProShares UltraPro Short QQQ by 1,087.5% in the 4th 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. Nwam LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the 1st quarter worth $1,460,000. Finally, Corient Private Wealth LP lifted its stake in shares of 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 purchasing an additional 9,057 shares during the last quarter.

About ProShares UltraPro Short QQQ

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.