ProShares UltraPro Short QQQ (SQQQ) Shares Down 9.2%

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) were down 9.2% during trading on Wednesday . The company traded as low as $12.43 and last traded at $12.44. Approximately 44,929,801 shares traded hands during mid-day trading, an increase of 126% from the average daily volume of 19,859,205 shares. The stock had previously closed at $13.70.

Several institutional investors and hedge funds have recently modified their holdings of the company. SCP Investment LP boosted its position in shares of ProShares UltraPro Short QQQ by 80.3% in the 2nd quarter. SCP Investment LP now owns 89,812 shares of the company’s stock worth $1,292,000 after purchasing an additional 40,000 shares in the last quarter. Wolverine Asset Management LLC boosted its position in shares of ProShares UltraPro Short QQQ by 6.2% in the 2nd quarter. Wolverine Asset Management LLC now owns 73,400 shares of the company’s stock worth $1,056,000 after purchasing an additional 4,300 shares in the last quarter. Trellus Management Company LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter worth approximately $735,000. Finally, OLD Mission Capital LLC bought a new stake in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth approximately $164,000.

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About ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

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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