ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 1-Year Low – Here’s What Happened

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price reached a new 52-week low on Friday. The company traded as low as $32.86 and last traded at $32.6960, with a volume of 13737256 shares traded. The stock had previously closed at $34.11.

ProShares UltraPro Short QQQ Stock Down 2.8%

The stock’s fifty day moving average price is $38.69 and its 200-day moving average price is $46.56.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the stock. Parallel Advisors LLC lifted its stake in shares of ProShares UltraPro Short QQQ by 104.0% during the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock worth $66,000 after purchasing an additional 415 shares during the period. Beacon Investment Advisory Services Inc. acquired a new stake in shares of ProShares UltraPro Short QQQ during the second quarter worth $46,000. PayPay Securities Corp grew its position in shares of ProShares UltraPro Short QQQ by 131.4% in the second quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock valued at $82,000 after purchasing an additional 1,286 shares during the period. Quantinno Capital Management LP purchased a new stake in shares of ProShares UltraPro Short QQQ in the first quarter valued at $201,000. Finally, J. Safra Sarasin Holding AG acquired a new position in ProShares UltraPro Short QQQ in the first quarter valued at $217,000.

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.