Why Nasdaq-100 Inverse ETF SQQQ Is Diving
Portfolio Pulse from Henry Khederian
ProShares UltraPro Short QQQ ETF (SQQQ) shares are trading lower by 3.97% due to softer-than-expected inflation data for June. The ETF, which inversely tracks the Nasdaq-100, is primarily used for short-term trading and market timing strategies. The lower inflation data has reinforced investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle.
July 12, 2023 | 3:08 pm
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SQQQ shares are trading lower due to softer-than-expected inflation data. This ETF is used for short-term trading and market timing strategies, and the current market conditions may impact its performance.
SQQQ is an inverse ETF that tracks the Nasdaq-100. It is designed for short-term trading and market timing strategies. The softer-than-expected inflation data for June has led to a decrease in its share price as it reinforces investor expectations of a single rate hike by the Federal Reserve followed by a halt to its tightening cycle. This impacts the performance of the ETF and hence its share price.
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