Investors Purchase High Volume of ProShares UltraPro Short QQQ Call Options (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was the target of unusually large options trading on Friday. Traders bought 135,029 call options on the company. This is an increase of approximately 56% compared to the typical volume of 86,504 call options.

ProShares UltraPro Short QQQ Stock Performance

SQQQ stock opened at $42.79 on Friday. ProShares UltraPro Short QQQ has a 1-year low of $35.80 and a 1-year high of $98.85. The business has a fifty day moving average price of $39.98 and a 200-day moving average price of $58.04.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently bought and sold shares of SQQQ. Larson Financial Group LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the 4th quarter valued at about $29,000. Parallel Advisors LLC lifted its position in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after purchasing an additional 1,022 shares during the period. Osaic Holdings Inc. lifted its position in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after purchasing an additional 696 shares during the period. FNY Investment Advisers LLC purchased a new stake in ProShares UltraPro Short QQQ in the third quarter worth approximately $63,000. Finally, Ramsey Quantitative Systems bought a new stake in ProShares UltraPro Short QQQ in the 2nd quarter worth approximately $102,000.

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.