Why SQQQ is in new lows while IXCI isn't in new highs?

Can somebody explain to me, why SQQQ is in new lows while the underlying index IXIC must rise 21.5% to reach his highs again (SQQQ highs and IXCI lows happened the same day - 19 Feb 20)? Shouldn’t SQQQ track IXCI exactly 3X all the time?