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

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during trading on Friday . The stock traded as low as $40.68 and last traded at $40.9640, with a volume of 38294381 shares trading hands. The stock had previously closed at $41.96.

ProShares UltraPro Short QQQ Price Performance

The firm has a 50-day moving average price of $62.32 and a two-hundred day moving average price of $66.77.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Larson Financial Group LLC acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth $29,000. Parallel Advisors LLC boosted its stake in ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after buying an additional 1,022 shares in the last quarter. Osaic Holdings Inc. boosted its stake in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after buying an additional 696 shares in the last quarter. FNY Investment Advisers LLC acquired a new stake in ProShares UltraPro Short QQQ during the third quarter worth $63,000. Finally, Sunbelt Securities Inc. acquired a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth $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.