Stock Traders Buy High Volume Call Options on ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Rating) saw some unusual options trading on Friday. Traders bought 251,187 call options on the company. This represents a 56% increase over the average volume of 161,093 call options.

ProShares UltraPro Short QQQ is trading up 2.0%

SQQQ stock opened at $49.12 on Friday. ProShares UltraPro Short QQQ has a 1 year minimum of $28.15 and a 1 year maximum of $67.69. The stock’s fifty-day moving average is $43.13 and its two-hundred-day moving average is $46.04.

Institutional investors weigh in on ProShares UltraPro Short QQQ

Hedge funds have recently increased or reduced their holdings in the stock. Northern Oak Wealth Management Inc. purchased a new stake in ProShares UltraPro Short QQQ in the first quarter for $28,000. Cypress Capital Management LLC WY purchased a new equity stake in ProShares UltraPro Short QQQ during the first quarter for approximately $35,000. Ahrens Investment Partners LLC purchased a new equity stake in ProShares UltraPro Short QQQ during the second quarter, valued at approximately $71,000. Whittier Trust Co. of Nevada Inc. purchased a new equity stake in ProShares UltraPro Short QQQ during the second quarter, valued at approximately $88,000. Finally, St. Johns Investment Management Company LLC purchased a new equity stake in ProShares UltraPro Short QQQ during the second quarter at a value of approximately $103,000.

ProShares UltraPro Short QQQ Company Profile

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ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which are three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The index includes 100 of the national and international non-financial issues listed on the National Association of Securities Dealers Automated Quotation (NASDAQ) stock market.

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