Sugar Maple Asset Management LLC Acquires New Shares in ProShares Short QQQ $PSQ

Sugar Maple Asset Management LLC bought a new position in ProShares Short QQQ (NYSEARCA:PSQ) in the 3rd quarter, HoldingsChannel reports. The institutional investor bought 17,000 shares of the company’s stock, valued at approximately $528,000.

A number of other hedge funds have also added to or reduced their stakes in the stock. BNP Paribas Financial Markets lifted its holdings in shares of ProShares Short QQQ by 2,358.3% in the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock worth $30,000 after buying an additional 849 shares in the last quarter. Union Bancaire Privee UBP SA bought a new stake in ProShares Short QQQ during the 2nd quarter worth approximately $34,000. PNC Financial Services Group Inc. lifted its stake in ProShares Short QQQ by 146.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,517 shares of the company’s stock worth $51,000 after purchasing an additional 902 shares in the last quarter. Avior Wealth Management LLC bought a new position in ProShares Short QQQ in the 2nd quarter valued at $207,000. Finally, Foundations Investment Advisors LLC boosted its holdings in ProShares Short QQQ by 15.0% in the 2nd quarter. Foundations Investment Advisors LLC now owns 6,485 shares of the company’s stock valued at $218,000 after purchasing an additional 846 shares during the period.

ProShares Short QQQ Stock Up 2.1%

ProShares Short QQQ stock opened at $30.59 on Wednesday. ProShares Short QQQ has a fifty-two week low of $29.34 and a fifty-two week high of $46.98. The firm’s fifty day moving average price is $30.32 and its 200-day moving average price is $31.37.

ProShares Short QQQ Profile

ProShares Short QQQ is focused on daily investment results that correspond to the inverse (opposite) of the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents non-financial domestic and international issues listed on The NASDAQ Stock Market. The Fund takes positions in financial instruments (including derivatives) that in combination should have similar daily return characteristics as the inverse of the NASDAQ-100 Index. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.