Traders Buy ProShares UltraPro Short QQQ (SQQQ) on Weakness
Traders purchased shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) on weakness during trading hours on Tuesday. $66.63 million flowed into the stock on the tick-up and $48.26 million flowed out of the stock on the tick-down, for a money net flow of $18.37 million into the stock. Of all companies tracked, ProShares UltraPro Short QQQ had the 22nd highest net in-flow for the day. ProShares UltraPro Short QQQ traded down ($0.19) for the day and closed at $10.98
A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Hsbc Holdings PLC raised its holdings in ProShares UltraPro Short QQQ by 2,304.5% during the third quarter. Hsbc Holdings PLC now owns 480,900 shares of the company’s stock worth $5,357,000 after acquiring an additional 460,900 shares in the last quarter. SG Americas Securities LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $835,000. Tower Research Capital LLC TRC raised its holdings in ProShares UltraPro Short QQQ by 12,900.5% during the third quarter. Tower Research Capital LLC TRC now owns 26,001 shares of the company’s stock worth $290,000 after acquiring an additional 25,801 shares in the last quarter. HRT Financial LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $290,000. Finally, Hengehold Capital Management LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth about $241,000.
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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.
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