ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 1-Year Low – Should You Sell?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during mid-day trading on Tuesday . The company traded as low as $21.33 and last traded at $21.38, with a volume of 27478204 shares traded. The stock had previously closed at $22.12.

ProShares UltraPro Short QQQ Price Performance

The stock has a 50-day moving average of $26.99 and a 200-day moving average of $30.53.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Institutional investors have recently added to or reduced their stakes in the business. Game Plan Financial Advisors LLC raised its position in shares of ProShares UltraPro Short QQQ by 16,818.2% during the 1st quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock valued at $71,000 after buying an additional 1,850 shares in the last quarter. Ashton Thomas Private Wealth LLC bought a new position in ProShares UltraPro Short QQQ in the first quarter valued at $392,000. Goldman Sachs Group Inc. purchased a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $7,668,000. Summit Financial LLC purchased a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $1,030,000. Finally, Flow Traders U.S. LLC bought a new stake in ProShares UltraPro Short QQQ during the first quarter worth about $2,512,000.

ProShares UltraPro Short QQQ Company Profile

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.