ProShares UltraPro Short QQQ ETF (NASDAQ:SQQQ) shares are trading lower by some 5.62% to $28.82 over the trailing five sessions. For the unitiated, per ProShares, SQQQ seeks daily investment results, before fees and expenses, that correspond to three times the inverse (-3x) of the daily performance of the Nasdaq-100 (NASDAQ:QQQ) ETF.
Major indices at large are trading higher Wednesday following April CPI data, which showed inflation slowed slightly from March levels.
What's Going On In The Broader Market?
The Consumer Price Index (CPI) in the United States came in at 4.9% year-over-year in April, slightly below the 5% increase seen in March and the 5% forecasted by economists.
The headline inflation rate rose 0.4% month-on-month in April, up from 0.1% in March and in line with expert expectations. The annual inflation rate was 5.5%, continuing the downtrend started in July 2022...Read More
According to data from Benzinga Pro, SQQQ has a 52-week high of $67.69 and a 52-week low of $28.10.