SQQQ Stock Summary and Trading Ideas (ProShares Ultrapro Short QQQ | NASDAQ:SQQQ)

ProShares UltraPro Short QQQ seeks daily investment results before fees and expenses that correspond to triple (300%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index .

ProShares Ultrapro Short QQQ trades on the NASDAQ stock market under the symbol SQQQ.

As of May 6, 2024, SQQQ stock price declined to $10.70 with 86,767,153 million shares trading.

SQQQ has a beta of -3.82, meaning it tends to be less sensitive to market movements. SQQQ has a correlation of 0.83 to the broad based SPY ETF.

SQQQ has a market cap of $2.83 billion. This is considered a Mid Cap stock.

In the last 3 years, SQQQ stock traded as high as $69.55 and as low as $10.05.

SQQQ has underperformed the market in the last year with a price return of -61.4% while the SPY ETF gained +28.3%. SQQQ has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -7.3% and -16.7%, respectively, while the SPY returned +4.8% and +4.3%, respectively.

SQQQ support price is $10.66 and resistance is $11.51 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that SQQQ stock will trade within this expected range on the day.