ProShares UltraPro Short QQQ ETF (NASDAQ:SQQQ) shares are trading sharply lower by some 3.72% to $29.68 on a week-to-date basis Friday morning. SQQQ is a popular, 3x-leveraged inverse ETF that tracks the Nasdaq-100.
Major indices are higher for the week following strong quarterly results from megacap tech companies, including Microsoft Corporation (NASDAQ:MSFT) and Meta Platforms Inc (NASDAQ:META), adding to positive market sentiment for the week. Additionally, initial jobless claims came in below estimates.
What Else is Going On In The Broader Market?
The SPDR S&P 500 ETF and other major indicies are otherwise experiencing weakness Friday morning after the Bureau of Economic Analysis reported a 4.2% increase in the personal consumption expenditures price index in the month of March, suggesting the Federal Reserve still has a long way to go in its battle against inflation…Read More
According to data from Benzinga Pro, SQQQ has a 52-week high of $69.55 and a 52-week low of $29.18.
