ProShares Short QQQ (NYSEARCA:PSQ) Sets New 52-Week Low – Here’s Why

ProShares Short QQQ (NYSEARCA:PSQ)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $27.29 and last traded at $27.35, with a volume of 5988065 shares changing hands. The stock had previously closed at $27.70.

ProShares Short QQQ Stock Down 1.3%

The stock has a 50 day simple moving average of $30.51 and a 200 day simple moving average of $30.38.

Institutional Investors Weigh In On ProShares Short QQQ

A number of hedge funds have recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in ProShares Short QQQ by 120.0% in the fourth quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock valued at $31,000 after acquiring an additional 559 shares during the period. 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 valued at $30,000 after purchasing an additional 849 shares in the last quarter. Two Sigma Securities LLC lifted its holdings in shares of ProShares Short QQQ by 3.2% in the second quarter. Two Sigma Securities LLC now owns 28,102 shares of the company’s stock valued at $946,000 after purchasing an additional 867 shares in the last quarter. Auour Investments LLC lifted its holdings in shares of ProShares Short QQQ by 15.6% in the third quarter. Auour Investments LLC now owns 7,652 shares of the company’s stock valued at $238,000 after purchasing an additional 1,030 shares in the last quarter. Finally, Litman Gregory Wealth Management LLC bought a new position in shares of ProShares Short QQQ in the fourth quarter valued at approximately $51,000.

ProShares Short QQQ Company 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.