ProShares Short QQQ (NYSEARCA:PSQ) Reaches New 1-Year Low – Time to Sell?

ProShares Short QQQ (NYSEARCA:PSQ)’s share price hit a new 52-week low during mid-day trading on Wednesday . The company traded as low as $29.21 and last traded at $29.2050, with a volume of 6135254 shares traded. The stock had previously closed at $29.59.

ProShares Short QQQ Price Performance

The business’s fifty day moving average price is $31.12 and its 200-day moving average price is $30.61.

ProShares Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were issued a $0.1536 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Wednesday, March 25th.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of PSQ. JPMorgan Chase & Co. raised its stake in ProShares Short QQQ by 190.2% in the second quarter. JPMorgan Chase & Co. now owns 7,959 shares of the company’s stock valued at $268,000 after purchasing an additional 5,216 shares in the last quarter. Squarepoint Ops LLC raised its stake in ProShares Short QQQ by 63.1% in the second quarter. Squarepoint Ops LLC now owns 116,318 shares of the company’s stock valued at $3,915,000 after purchasing an additional 44,998 shares in the last quarter. BNP Paribas Financial Markets raised its stake in ProShares Short QQQ by 2,358.3% in the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock valued at $30,000 after purchasing an additional 849 shares in the last quarter. Two Sigma Securities LLC raised its stake in ProShares Short QQQ by 3.2% in the second quarter. Two Sigma Securities LLC now owns 28,102 shares of the company’s stock valued at $946,000 after purchasing an additional 867 shares in the last quarter. Finally, Corient Private Wealth LLC purchased a new stake in ProShares Short QQQ in the second quarter valued at approximately $427,000.

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.