ProShares UltraPro Short QQQ Sees Major Inflow in ETF Market
ETFs Experience Noteworthy Increases in Shares Outstanding
Today’s analysis reveals significant changes in outstanding shares among ETFs tracked by ETF Channel. Notably, the ProShares UltraPro Short QQQ (Symbol: SQQQ) attracted around $279.2 million in inflows, translating to a 14.1% week-over-week surge in shares outstanding. This increase moved the total from 74,717,690 to 85,217,690 units.
The chart below illustrates SQQQ’s price performance over the past year compared to its 200-day moving average:
From the chart, SQQQ’s 52-week low is $26.3141 per share, while the 52-week high reaches $64.95. The most recent trade occurred at $26.76. Evaluating the current share price alongside the 200-day moving average is a helpful technique for technical analysis.
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Exchange-traded funds (ETFs) function similarly to stocks; however, instead of “shares,” investors trade “units.” These units can be bought and sold like stocks and can also be created or destroyed based on investor interest. Our weekly monitoring of changes in outstanding shares highlights ETFs that are witnessing significant inflows or outflows. The creation of new units indicates that the underlying assets of the ETF must be purchased, while the destruction of units implies selling those assets, which can influence the individual components held within these ETFs.
Click here to find out which 9 other ETFs had notable inflows »
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The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
