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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ – Get Rating) was the target of unusual options trading activity on Friday. Equity investors bought 178,007 call options on the company. This is an increase of approximately 39% over the average volume of 127,794 call options.

ProShares UltraPro Short QQQ shares down 5.5%

Shares of SQQQ traded at $2.30 at midday on Friday, hitting $39.83. 117,838,164 shares of the stock have been traded, compared to its average volume of 102,672,227. The company has a fifty-day moving average price of $53.15 and a 200-day moving average price of 46, $67. ProShares UltraPro Short QQQ has a 1 year minimum of $28.15 and a 1 year maximum of $67.69.

Institutional entries and exits

Hedge funds and other institutional investors have recently increased or reduced their stakes in the stock. SkyOak Wealth LLC bought a new position in ProShares UltraPro Short QQQ in the first quarter worth $438,000. SCEP Management Ltd purchased a new stake in ProShares UltraPro Short QQQ during the fourth quarter, valued at approximately $57,785,000. FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter, valued at approximately $336,000. Brave Asset Management Inc. increased its position in ProShares UltraPro Short QQQ by 87.8% during the first quarter. Brave Asset Management Inc. now owns 150,218 shares of the company valued at $5,058,000 after purchasing an additional 70,218 shares during the period. Finally, Avaii Wealth Management LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter, valued at approximately $828,000.

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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