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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s share price reached a new 52-week low on Tuesday . The stock traded as low as $36.15 and last traded at $36.31, with a volume of 58346662 shares trading hands. The stock had previously closed at $40.04.

ProShares UltraPro Short QQQ Stock Performance

The company has a 50 day simple moving average of $49.35 and a two-hundred day simple moving average of $62.92.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds have recently modified their holdings of the stock. Larson Financial Group LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $29,000. Parallel Advisors LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 105.4% in the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after buying an additional 1,022 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of ProShares UltraPro Short QQQ by 47.2% in the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after buying an additional 696 shares during the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the third quarter worth about $63,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth about $137,000.

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.