Trivest Advisors Ltd Makes New Investment in ProShares UltraPro Short QQQ $SQQQ

Key Points

• Trivest Advisors Ltd. initiated a position in ProShares UltraPro Short QQQ (SQQQ), purchasing 390,900 shares valued at approximately $14.2 million. The holding represented 0.4% of its portfolio and about 0.86% of SQQQ outstanding shares.
• Several institutional investors also increased or initiated SQQQ positions, including IMC Chicago, Jump Financial, Squarepoint Ops, Goldman Sachs and JPMorgan Chase.
• SQQQ opened at $38.53, well below its 200-day moving average of $53.82, and is designed to deliver three times the inverse of the Nasdaq-100’s daily performance through derivatives and short-term cash instruments.

Trivest Advisors Ltd bought a new position in ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report) during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 390,900 shares of the company's stock, valued at approximately $14,194,000. ProShares UltraPro Short QQQ comprises 0.4% of Trivest Advisors Ltd's holdings, making the stock its 15th largest holding. Trivest Advisors Ltd owned approximately 0.86% of ProShares UltraPro Short QQQ at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. IMC Chicago LLC lifted its holdings in ProShares UltraPro Short QQQ by 267.3% during the first quarter. IMC Chicago LLC now owns 809,094 shares of the company's stock worth $65,124,000 after acquiring an additional 588,799 shares during the period. Jump Financial LLC grew its stake in ProShares UltraPro Short QQQ by 291.5% in the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company's stock valued at $8,512,000 after purchasing an additional 416,119 shares during the period. Squarepoint Ops LLC purchased a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter valued at $6,504,000. Goldman Sachs Group Inc. purchased a new stake in shares of ProShares UltraPro Short QQQ during the 1st quarter valued at $7,668,000. Finally, JPMorgan Chase & Co. raised its stake in shares of ProShares UltraPro Short QQQ by 804.3% during the 3rd quarter. JPMorgan Chase & Co. now owns 184,884 shares of the company's stock worth $2,816,000 after purchasing an additional 164,440 shares during the period.

ProShares UltraPro Short QQQ Price Performance

Shares of NASDAQ:SQQQ opened at $38.53 on Thursday. The company's 50-day moving average is $39.77 and its 200 day moving average is $53.82. ProShares UltraPro Short QQQ has a fifty-two week low of $35.72 and a fifty-two week high of $95.00.

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.

Want to see what other hedge funds are holding SQQQ? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for ProShares UltraPro Short QQQ (NASDAQ:SQQQ - Free Report).

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