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

ProShares Short QQQ (NYSEARCA:PSQ) reached a new 52-week low on Tuesday . The company traded as low as $34.89 and last traded at $34.91, with a volume of 1121052 shares. The stock had previously closed at $35.30.

ProShares Short QQQ Trading Down 1.3%

The business has a 50-day moving average of $37.38 and a 200-day moving average of $37.90.

Hedge Funds Weigh In On ProShares Short QQQ

A number of hedge funds have recently made changes to their positions in PSQ. PNC Financial Services Group Inc. acquired a new stake in shares of ProShares Short QQQ during the first quarter worth about $25,000. Banque Cantonale Vaudoise purchased a new position in ProShares Short QQQ in the 1st quarter valued at approximately $98,000. JPMorgan Chase & Co. grew its stake in shares of ProShares Short QQQ by 62.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock worth $167,000 after acquiring an additional 1,713 shares in the last quarter. Intellectus Partners LLC acquired a new position in shares of ProShares Short QQQ in the fourth quarter worth $206,000. Finally, Headlands Technologies LLC purchased a new stake in shares of ProShares Short QQQ during the fourth quarter worth $217,000.

About ProShares Short QQQ

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.