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

ProShares Short QQQ (NYSEARCA:PSQ) reached a new 52-week low during trading on Wednesday . The stock traded as low as $28.62 and last traded at $28.6460, with a volume of 196638 shares trading hands. The stock had previously closed at $28.88.

ProShares Short QQQ Stock Up 0.6%

The company’s 50 day moving average price is $30.86 and its 200 day moving average price is $30.51.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the business. Game Creek Capital LP boosted its stake in shares of ProShares Short QQQ by 34.0% in the third quarter. Game Creek Capital LP now owns 177,500 shares of the company’s stock valued at $5,510,000 after purchasing an additional 45,000 shares during the period. Envestnet Asset Management Inc. boosted its stake in shares of ProShares Short QQQ by 184.1% in the third quarter. Envestnet Asset Management Inc. now owns 48,628 shares of the company’s stock valued at $1,509,000 after purchasing an additional 31,512 shares during the period. Arkadios Wealth Advisors boosted its stake in shares of ProShares Short QQQ by 75.1% in the third quarter. Arkadios Wealth Advisors now owns 211,484 shares of the company’s stock valued at $6,564,000 after purchasing an additional 90,674 shares during the period. Ballew Advisors Inc acquired a new stake in ProShares Short QQQ in the third quarter valued at approximately $1,108,000. Finally, Stratos Wealth Advisors LLC purchased a new position in ProShares Short QQQ in the third quarter worth approximately $11,038,000.

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.