ProShares - UltraPro Short QQQ
SQQQ
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- ProShares UltraPro Short QQQ (SQQQ) is an exchange-traded fund that seeks daily investment results corresponding to three times the inverse (-3x) of the daily performance of the Nasdaq-100 Index. The fund employs derivatives including swaps with counterparties such as UBS AG, JPMorgan Chase Bank NA, Citibank NA, BNP Paribas, Barclays Capital, Goldman Sachs International, Morgan Stanley, Bank of America NA, Societe Generale, and Nomura Capital, as well as Nasdaq-100 E-mini futures and U.S. Treasury bills for collateral; it is leveraged for short-term tactical trading or hedging against declines in the technology-heavy Nasdaq-100 Index comprising 100 of the largest non-financial Nasdaq-listed companies. Launched on February 9, 2010, and listed on Nasdaq, SQQQ features a net expense ratio of 0.95%, quarterly distributions, and options availability, with assets under management exceeding $2.9 billion as of late 2025. ProShares UltraPro Short QQQ operates globally through its exposure to the U.S.-centric Nasdaq-100 Index, targeting sophisticated investors seeking short-term bearish bets on large-cap growth stocks in sectors like technology and consumer discretionary. Issued by ProShares Trust and managed by ProShare Advisors LLC, the fund is part of ProShares' extensive lineup of over 150 ETFs focused on leveraged, inverse, dividend growth, high income, interest rate hedged bonds, crypto-linked, and thematic strategies; ProShares, headquartered in Bethesda, Maryland, pioneered leveraged and inverse ETFs since its launch in 2006 as a division of ProFunds Group founded in 1997. In the last 1-2 years, ProShares UltraPro Short QQQ underwent a 1-for-5 reverse share split effective November 20, 2025, to adjust its share price following market performance. ProShares announced forward and reverse share splits on 22 ETFs including SQQQ-related products in November 2025 and strengthened its distribution capabilities in September 2025 by hiring three Regional Vice Presidents—Chad Brand for Southern California, Mike Hart for New York City/Westchester/Long Island, and Matt Zorumski for Florida—to support financial advisors amid business expansion. The firm, managing over $95 billion in ETF and mutual fund assets as of September 2025, continues active recruitment across distribution, marketing, operations, product, and technology functions to fuel long-term growth.