ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 1-Year Low – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares hit a new 52-week low on Thursday . The company traded as low as $35.77 and last traded at $35.9290, with a volume of 19182943 shares traded. The stock had previously closed at $37.32.

ProShares UltraPro Short QQQ Price Performance

The business’s 50 day simple moving average is $40.26 and its 200 day simple moving average is $54.77.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Hedge funds have recently bought and sold shares of the company. Larson Financial Group LLC acquired a new position in ProShares UltraPro Short QQQ during the fourth quarter worth approximately $29,000. Parallel Advisors LLC lifted its position in shares of ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock valued at $30,000 after buying an additional 1,022 shares during the last quarter. Osaic Holdings Inc. lifted its position in shares of ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares during the last quarter. Ramsey Quantitative Systems bought a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $102,000. Finally, Eastern Bank acquired a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $129,000.

About ProShares UltraPro Short QQQ

ProShares UltraPro Short QQQ (the Fund) seeks daily investment results, which corresponds to three times the inverse of the daily performance of the NASDAQ-100 Index (the Index). The Index includes 100 of the non-financial domestic and international issues listed on National Association of Securities Dealers Automated Quotation (NASDAQ) Stock Market. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.