ProShares Short QQQ (NYSEARCA:PSQ) Reaches New 1-Year Low – Here’s What Happened

ProShares Short QQQ (NYSEARCA:PSQ) shares hit a new 52-week low on Wednesday . The stock traded as low as $29.28 and last traded at $29.2550, with a volume of 79640 shares trading hands. The stock had previously closed at $29.50.

ProShares Short QQQ Trading Down 0.5%

The business has a 50 day simple moving average of $30.23 and a two-hundred day simple moving average of $31.24.

Institutional Trading of ProShares Short QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in PSQ. BNP Paribas Financial Markets grew its holdings in 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 during the period. ORG Partners LLC boosted its holdings in shares of ProShares Short QQQ by 120.0% in the 4th quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock valued at $31,000 after purchasing an additional 559 shares during the last quarter. Union Bancaire Privee UBP SA acquired a new position in shares of ProShares Short QQQ in the 2nd quarter valued at $34,000. PNC Financial Services Group Inc. grew its stake in shares of ProShares Short QQQ by 146.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,517 shares of the company’s stock valued at $51,000 after buying an additional 902 shares during the period. Finally, Avior Wealth Management LLC purchased a new stake in shares of ProShares Short QQQ during the 2nd quarter valued at $207,000.

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. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.