ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 12-Month Low – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price hit a new 52-week low during trading on Tuesday . The company traded as low as $41.99 and last traded at $42.22, with a volume of 49278629 shares. The stock had previously closed at $42.57.

ProShares UltraPro Short QQQ Price Performance

The stock’s fifty day moving average is $65.75 and its 200 day moving average is $67.77.

Institutional Trading of ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of SQQQ. Quadrature Capital Ltd bought a new stake in ProShares UltraPro Short QQQ in the third quarter worth $33,368,000. IMC Chicago LLC raised its stake in shares of ProShares UltraPro Short QQQ by 267.3% in the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after acquiring an additional 588,799 shares during the period. Citigroup Inc. lifted its holdings in shares of ProShares UltraPro Short QQQ by 17.5% in the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock worth $10,878,000 after acquiring an additional 106,243 shares during the last quarter. Flow Traders U.S. LLC lifted its holdings in shares of ProShares UltraPro Short QQQ by 168.5% in the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock worth $10,241,000 after acquiring an additional 421,972 shares during the last quarter. Finally, Smithfield Trust Co boosted its stake in shares of ProShares UltraPro Short QQQ by 330.6% during the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock worth $8,523,000 after purchasing an additional 429,640 shares during the period.

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.