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Asset Summary

Daily Performance Report for SQQQ ETF: Nov 14, 2024

Summary: The day started with SQQQ ETF opening at $31.96 and closing at $32.42. The ETF showed resilience throughout the day, with the highest price observed at $32.64 and the lowest at $31.86. The underlying asset had a trading range of $0.78 Overall, it was a positive trading day for SQQQ ETF, reflecting investor optimism and market activity.

Change in Closing Price: There was a net increase of $0.46 or 1.44% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for SQQQ ETF was 29,444,126 units during Nov 14, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $31.96.

Highest Price: The highest price observed during the day was $32.64.

Lowest Price: The lowest price observed during the day was $31.86.

Closing Price: The day ended at $32.42.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

The historical performance of SQQQ reflects its objective to deliver three times the inverse daily return of the NASDAQ-100 Index. The long-term performance may differ significantly from -3x the index’s performance due to daily rebalancing and compounding effects. Reviewing historical performance data provides insights into how the ETF has behaved over various periods.

Factors that can affect SQQQ’s performance include market volatility, changes in the NASDAQ-100 Index, the effectiveness of leverage implementation, and the costs associated with maintaining leverage. Broader market conditions and macroeconomic factors also influence the ETF’s performance.

SQQQ rebalances its portfolio daily to maintain its leverage ratio of -3x the daily return of the NASDAQ-100 Index. This daily adjustment involves reconfiguring its derivative positions to align with its performance objective.

Investors can purchase shares of SQQQ through a brokerage account, similar to other stocks and ETFs. It is traded on the NASDAQ stock exchange under the ticker symbol "SQQQ."

As of the latest update, SQQQ has an expense ratio of approximately 0.95%. This fee is deducted from the fund’s assets and covers the cost of managing the ETF and maintaining leverage.

Similar ETFs to SQQQ include ProShares UltraShort QQQ (QID), which seeks to provide -2x the daily return of the NASDAQ-100 Index, and ProShares Short QQQ (PSQ), which aims for -1x the daily return of the index. These ETFs offer different levels of inverse exposure to the NASDAQ-100 Index.

SQQQ distributes dividends on a quarterly basis. These dividends are derived from the income generated by the underlying securities and derivative contracts in the ETF’s portfolio.

Key performance metrics for SQQQ include its net asset value (NAV), expense ratio, total return, and tracking error. NAV represents the per-share value of the ETF, the expense ratio indicates the cost of managing the fund, total return measures overall performance including dividends, and tracking error shows how closely SQQQ follows its leverage objective relative to the NASDAQ-100 Index.

Yes, SQQQ can be held in retirement accounts such as IRAs or 401(k)s. However, due to its leveraged inverse nature and high risk profile, it is important for investors to carefully consider their investment goals and risk tolerance before including SQQQ in a retirement portfolio.

SQQQ is managed by ProShares. The fund uses financial derivatives, such as futures contracts and swaps, to achieve its goal of providing -3x the daily return of the NASDAQ-100 Index. Daily rebalancing of these derivatives is necessary to maintain the leverage ratio and ensure the ETF meets its performance target.

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