This ETF Gained Over 3% Today As Markets Shift: What’s Going On?  – ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

This ETF Gained Over 3% Today As Markets Shift: What’s Going On? – ProShares UltraPro Short QQQ (NASDAQ:SQQQ)

ProShares UltraPro Short QQQ SQQQ rose Thursday as markets plummeted.

The SQQQ is a 3x leveraged inverse ETF that tracks the Nasdaq 100 Index.

The top five companies in the index are: apple inc AAPL, Microsoft Corp MSFT, Amazon.com Inc AMZN, Tesla Inc TSLA and Alphabet Inc GOOG.

The fund aims to achieve daily investment returns, before fees and charges, that are equivalent to three times the inverse of the Nasdaq 100’s return in one day. For periods longer than one day, the fund will lose money if the index’s performance is flat. In addition, the fund may lose money even if the level of the index falls.

Thursday’s sell-off was enough to send the inverse ETF up, but several companies in the Nasdaq 100 are cutting losses until the close.

See also: Why FedEx Shares Rising Thursday Afternoon

SQQQ Price Promotion: The SQQQ ended the day at 3.67% to $53.68 at the time of publication, according to Benzinga Pro.

Photo: Lorenzo Cafaro from Pixabay.

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