What's Going On With ProShares UltraPro Short QQQ ETF Today

Author: Anusuya Lahiri | May 05, 2023 11:45am

• ProShares UltraPro Short QQQ (NASDAQ:SQQQ) is trading lower today as investors dump the U.S. treasury bills for higher-risk, higher-reward investments following a surge in treasury yields. 
• SQQQ is a 3x-leveraged inverse ETF that tracks the Nasdaq-100. It has 31% exposure to June 2023 t-bills
• The impressive quarterly results from the likes of Microsoft Corporation (NASDAQ:MSFT), Meta Platforms Inc (NASDAQ:META), Apple Inc (NASDAQ:AAPL), Amazon.com Inc (NASDAQ:AMZN), Alphabet Inc (NASDAQ:GOOG) (NASDAQ:GOOGL) served a significant boost to investor sentiment since last two weeks.
• Quite likely, Nasdaq-100 ETFs like Invesco QQQ Trust, Series 1 (NASDAQ:QQQ), and Invesco NASDAQ 100 ETF (NASDAQ:QQQM) are trading in the green. 
• The SQQQ ETF is ideal for investors with a bearish short-term outlook for nonfinancial equities and is trading lower by 47% YTD. 
• Contrastingly, ProShares UltraPro QQQ (NASDAQ:TQQQ), a 3x daily long leverage to the NASDAQ-100 Index, ideal for investors with a bullish short-term outlook for nonfinancial equities, is trading up in the green, up over 64% YTD. 
• The TQQQ ETF noted a $(1.2) billion fund outflow in the last three months and $(275) million in the previous five days. The SQQQ ETF saw an inflow of $2.59 billion in the previous three months and $753 million in the last five days.
• Price Action: SQQQ traded lower by 5.04% at $29.23 on the last check Friday.

Posted In: AAPL AMZN GOOG GOOGL META MSFT QQQ QQQM SQQQ TQQQ