What's Going On With ProShares UltraPro Short QQQ ETF Today

ProShares UltraPro Short QQQ SQQQ is trading lower today as investors dump the U.S. treasury bills for higher-risk, higher-reward investments following a surge in treasury yields.
SQQQ is a 3x-leveraged inverse ETF that tracks the Nasdaq-100. It has 31% exposure to June 2023 t-bills
The impressive quarterly results from the likes of Microsoft Corporation MSFT, Meta Platforms Inc META, Apple Inc AAPL, Amazon.com Inc AMZN, Alphabet Inc GOOG GOOGL served a significant boost to investor sentiment since last two weeks.
Quite likely, Nasdaq-100 ETFs like Invesco QQQ Trust, Series 1 QQQ, and Invesco NASDAQ 100 ETF QQQM are trading in the green.
The SQQQ ETF is ideal for investors with a bearish short-term outlook for nonfinancial equities and is trading lower by 47% YTD.
Contrastingly, ProShares UltraPro QQQ TQQQ, a 3x daily long leverage to the NASDAQ-100 Index, ideal for investors with a bullish short-term outlook for nonfinancial equities, is trading up in the green, up over 64% YTD.
The TQQQ ETF noted a $(1.2) billion fund outflow in the last three months and $(275) million in the previous five days. The SQQQ ETF saw an inflow of $2.59 billion in the previous three months and $753 million in the last five days.
Price Action: SQQQ traded lower by 5.04% at $29.23 on the last check Friday.