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Benzinga
Benzinga
Business
Melanie Schaffer

Nasdaq 100 Got You Bearish? The SQQQ Inverse ETF Is Showing Signs Of Strength

Nasdaq ETF Amazon

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) was surging over 7% higher Friday, in a rebound from Thursday’s trading session, which saw the ETF open higher before plunging 14.2%.

SQQQ is a 3X leveraged ETF that tracks the movement of the Nasdaq 100 inversely. The Nasdaq 100 index is heavily weighted with stocks in the technology and telecommunication sectors, with Apple Inc. (NASDAQ:AAPL), Microsoft Corporation (NASDAQ:MSFT) and Amazon.com Inc. (NASDAQ:AMZN) holding the three top spots.

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