ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 1-Year Low – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price reached 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 changing hands. The stock had previously closed at $42.57.

ProShares UltraPro Short QQQ Trading Down 0.8%

The stock’s fifty day moving average price is $66.87 and its 200 day moving average price is $68.19.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC boosted its holdings in ProShares UltraPro Short QQQ by 104.0% in the first quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares during the last quarter. Larson Financial Group LLC purchased a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth approximately $29,000. Osaic Holdings Inc. boosted its holdings in ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares during the last quarter. FNY Investment Advisers LLC boosted its holdings in ProShares UltraPro Short QQQ by 25.7% in the fourth quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock worth $361,000 after purchasing an additional 1,078 shares during the last quarter. Finally, Sunbelt Securities Inc. purchased a new stake in ProShares UltraPro Short QQQ in the fourth quarter worth approximately $137,000.

ProShares UltraPro Short QQQ Company Profile

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.