ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Stock Price Up 11.8% – Time to Buy?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares were up 11.8% on Thursday. The stock traded as high as $45.64 and last traded at $46.47. 13,515,670 shares traded hands during mid-day trading, a decline of 76% from the average session volume of 55,413,148 shares. The stock had previously closed at $41.56.

ProShares UltraPro Short QQQ Stock Down 3.7%

The company’s fifty day moving average price is $37.53 and its 200-day moving average price is $49.70.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Tidal Investments LLC raised its holdings in shares of ProShares UltraPro Short QQQ by 119.8% in the second quarter. Tidal Investments LLC now owns 12,500 shares of the company’s stock worth $463,000 after buying an additional 6,813 shares during the period. Beacon Investment Advisory Services Inc. purchased a new stake in ProShares UltraPro Short QQQ in the second quarter worth $46,000. Corient Private Wealth LP increased its stake in ProShares UltraPro Short QQQ by 283.4% in the second 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 period. PayPay Securities Corp lifted its position in shares of ProShares UltraPro Short QQQ by 131.4% during the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock worth $82,000 after purchasing an additional 1,286 shares during the last quarter. Finally, Trivest Advisors Ltd bought a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth $14,194,000.

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.