Strong Inflow: ProShares UltraPro Short QQQ (Symbol: SQQQ)
Investors have shown a robust vote of confidence in the ProShares UltraPro Short QQQ (Symbol: SQQQ) as approximately $198.5 million flowed into the ETF, signifying a noteworthy 6.7% rise in outstanding units within a week, from 261,650,550 to 279,050,550.
The one-year price performance of SQQQ against its 200-day moving average is a key point of interest, depicted in the chart below.
SQQQ has ranged from a low of $10.97 per share to a high of $42.57 over the past 52 weeks, currently trading at $11.52. A comparative analysis of the most recent share price with the 200-day moving average can offer valuable insights to technical analysts.
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Exchange-traded funds (ETFs) behave akin to stocks, with investors buying and selling “units.” These “units” can be traded back and forth like stocks and can also be created or destroyed based on investor demand. We closely monitor week-over-week changes in shares outstanding data to monitor for ETFs with notable inflows or outflows. Creation of new units implies purchasing the underlying holdings of the ETF, while destruction of units involves selling underlying holdings, thus significant flows can influence the individual components held within ETFs.
Click here to discover the other 9 ETFs that experienced substantial 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.
