ProShares UltraPro Short QQQ Sees Unusually Large Options Volume (NASDAQ:SQQQ)

Key Points

• Unusually large options activity: Investors bought 90,467 call options on SQQQ on Friday, roughly a 54% jump above the typical daily call volume of 58,564.
• Shares fell sharply: SQQQ opened at $52.50 and was down about 5.7%, with a 50-day/200-day moving average near $70.97/$69.91 and a 12-month range of $52.37–$168.30.
• Significant institutional buying: Several institutions boosted or established positions in SQQQ, notably Quadrature Capital’s new ~$33.4 million stake and large increases from Citigroup, Flow Traders, Smithfield Trust and Jump Financial.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) saw unusually large options trading activity on Friday. Investors purchased 90,467 call options on the stock. This is an increase of approximately 54% compared to the typical daily volume of 58,564 call options.

ProShares UltraPro Short QQQ Stock Down 5.7%

Shares of SQQQ stock opened at $52.50 on Friday. The firm's 50-day moving average is $70.97 and its two-hundred day moving average is $69.91. ProShares UltraPro Short QQQ has a 12 month low of $52.37 and a 12 month high of $168.30.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Quadrature Capital Ltd acquired a new position in shares of ProShares UltraPro Short QQQ in the 3rd quarter worth approximately $33,368,000. Citigroup Inc. raised its position in ProShares UltraPro Short QQQ by 17.5% in the third quarter. Citigroup Inc. now owns 714,260 shares of the company's stock valued at $10,878,000 after purchasing an additional 106,243 shares during the period. Flow Traders U.S. LLC raised its position in ProShares UltraPro Short QQQ by 168.5% in the third quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company's stock valued at $10,241,000 after purchasing an additional 421,972 shares during the period. Smithfield Trust Co lifted its stake in ProShares UltraPro Short QQQ by 330.6% during the third quarter. Smithfield Trust Co now owns 559,600 shares of the company's stock worth $8,523,000 after purchasing an additional 429,640 shares in the last quarter. Finally, Jump Financial LLC boosted its position in shares of ProShares UltraPro Short QQQ by 291.5% during the third quarter. Jump Financial LLC now owns 558,887 shares of the company's stock worth $8,512,000 after buying an additional 416,119 shares during the period.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.