On October 30, ProShares UltraPro QQQ fell 7.9% in Regular Trading, trading at $63.86 with turnover of $1.074 billion.
The move aligned with a sharp deterioration in Nasdaq risk sentiment. US market updates showed Nasdaq futures falling as much as 2.5%, while the Nasdaq opened down nearly 3% as semiconductor shares slumped. Intel dropped more than 25% after issuing sharply weaker guidance and warning that PC demand remained soft, while Advanced Micro fell more than 10%, adding to pressure on the tech-heavy index that this leveraged ETF tracks.
Earlier reports also noted that disappointing results from major technology companies had already pushed Nasdaq-linked leveraged products lower in extended trading, with losses amplified by the fund's triple-leverage structure. Because ProShares UltraPro QQQ seeks daily returns consistent with three times the Nasdaq-100's move, index declines can translate into significantly larger falls in the ETF.
(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)
The fund invests in financial instruments that ProShare Advisors believes, in combination, should produce daily returns consistent with the Daily Target. The index includes 100 of the largest domestic and international non-financial companies listed on The Nasdaq Stock Market based on market capitalization. The fund is non-diversified.
Comments