The triple-short Nasdaq 100 ETF is the most active stock on U.S. exchanges

The ProShares UltraPro Short QQQ ETF /zigman2/quotes/202448809/composite SQQQ -4.18% dropped 3.0% on heavy volume in midday trading Thursday, as the Invesco QQQ ETF /zigman2/quotes/208575548/composite QQQ +1.43% , which tracks the Nasdaq 100 /zigman2/quotes/210598364/realtime NDX +1.42% , jumps 0.9%, with 85 of its 103 equity components gaining ground. Trading volume in the UltraPro Short QQQs, which aims to return triple the inverse of the technology-heavy Nasdaq 100's performance, ballooned to 164.9 million shares, which is already more than the full-day average of about 124.5 million shares, and enough to make the triple-short QQQs the most actively traded stock on major U.S. exchanges. With the tech sector selling off over the past couple weeks, the triple-short QQQs had run up 12.9% since closing at a record low of $5.89 on Nov. 19 through Wednesday's one-month closing high of $6.65. Over the same time, the QQQs had slumped 4.2% while the S&P 500 /zigman2/quotes/210599714/realtime SPX +1.30% fell 3.9%.

/zigman2/quotes/202448809/composite

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ProShares UltraPro Short QQQ

US : U.S.: Nasdaq

$ 32.74

-1.43 -4.18%

Volume: 105.26M

March 21, 2023 4:15p

/zigman2/quotes/208575548/composite

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Invesco QQQ Trust Series I

US : U.S.: Nasdaq

$ 310.34

+4.37 +1.43%

Volume: 49.76M

March 21, 2023 4:15p

/zigman2/quotes/210598364/realtime

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NASDAQ 100 Index (NASDAQ Calculation)

US : Nasdaq

12,741.44

+178.83 +1.42%

Volume: 1.06M

March 21, 2023 5:16p

/zigman2/quotes/210599714/realtime

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S&P 500 Index

US : S&P US

4,002.87

+51.30 +1.30%

Volume: 0.00

March 21, 2023 5:04p