ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 52-Week Low – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares hit a new 52-week low during mid-day trading on Thursday . The stock traded as low as $38.86 and last traded at $39.44, with a volume of 62712065 shares changing hands. The stock had previously closed at $39.28.

ProShares UltraPro Short QQQ Stock Performance

The firm has a 50 day moving average of $58.26 and a 200-day moving average of $65.56.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

Several large investors have recently modified their holdings of the stock. Quadrature Capital Ltd bought a new stake in shares of ProShares UltraPro Short QQQ in the 3rd quarter valued at approximately $33,368,000. IMC Chicago LLC grew its stake in shares of ProShares UltraPro Short QQQ by 267.3% in the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares during the period. Citigroup Inc. grew its stake in shares of ProShares UltraPro Short QQQ by 17.5% in the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock valued at $10,878,000 after purchasing an additional 106,243 shares during the period. Flow Traders U.S. LLC grew its stake in shares of ProShares UltraPro Short QQQ by 168.5% in the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after purchasing an additional 421,972 shares during the period. Finally, Smithfield Trust Co grew its stake in shares of ProShares UltraPro Short QQQ by 330.6% in the 3rd quarter. Smithfield Trust Co now owns 559,600 shares of the company’s stock valued at $8,523,000 after purchasing an additional 429,640 shares during the period.

About ProShares UltraPro Short QQQ

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.