Why Nasdaq-100 Inverse ETF SQQQ Is Trading Lower Today
Portfolio Pulse from Henry Khederian
ProShares UltraPro Short QQQ ETF (SQQQ) is trading lower by 2.64% to $19.56 due to new U.S. job market data showing early signs of cooling and three consecutive weeks of higher-than-expected unemployment claims. The ETF is designed for short-term trading and market timing strategies.
June 22, 2023 | 7:28 pm
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SQQQ is trading lower due to new U.S. job market data showing early signs of cooling and higher-than-expected unemployment claims, impacting the ETF's short-term trading strategies.
SQQQ is a 3x-leveraged inverse ETF that tracks the Nasdaq-100. The new U.S. job market data showing early signs of cooling and higher-than-expected unemployment claims is causing the ETF to trade lower. This impacts the ETF's short-term trading strategies as it is designed for taking advantage of anticipated market downturns.
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