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 mid-day trading on Friday. The company traded as low as $24.41 and last traded at $24.41, with a volume of 2445614 shares. The stock had previously closed at $24.74.

ProShares Short QQQ Stock Down 0.9%

The stock’s 50 day simple moving average is $25.81 and its two-hundred day simple moving average is $26.96.

Institutional Investors Weigh In On ProShares Short QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in PSQ. Auour Investments LLC increased its position in shares of ProShares Short QQQ by 14.3% in the first quarter. Auour Investments LLC now owns 12,646 shares of the company’s stock worth $407,000 after purchasing an additional 1,583 shares during the period. Banque Cantonale Vaudoise bought a new stake in ProShares Short QQQ during the first quarter worth about $104,000. Envestnet Asset Management Inc. lifted its position in ProShares Short QQQ by 20.5% during the second quarter. Envestnet Asset Management Inc. now owns 20,788 shares of the company’s stock worth $521,000 after purchasing an additional 3,538 shares during the period. F&V Capital Management LLC increased its holdings in ProShares Short QQQ by 32.3% in the 1st quarter. F&V Capital Management LLC now owns 19,850 shares of the company’s stock valued at $639,000 after buying an additional 4,850 shares during the period. Finally, Intellectus Partners LLC acquired a new position in shares of ProShares Short QQQ in the 4th quarter valued at approximately $208,000.

ProShares Short QQQ Company Profile

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.