ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 1-Year Low – Here’s Why

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) reached a new 52-week low during trading on Monday . The company traded as low as $35.95 and last traded at $35.9060, with a volume of 10769128 shares trading hands. The stock had previously closed at $36.75.

ProShares UltraPro Short QQQ Trading Up 1.3%

The firm’s 50 day moving average price is $46.41 and its two-hundred day moving average price is $62.03.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in SQQQ. Larson Financial Group LLC acquired a new stake in ProShares UltraPro Short QQQ during the 4th quarter worth approximately $29,000. Parallel Advisors LLC raised its stake in shares of ProShares UltraPro Short QQQ by 105.4% during the third quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after purchasing an additional 1,022 shares during the last quarter. Osaic Holdings Inc. raised its stake in shares of ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after purchasing an additional 696 shares during the last quarter. FNY Investment Advisers LLC acquired a new stake in shares of ProShares UltraPro Short QQQ during the third quarter worth $63,000. Finally, Sunbelt Securities Inc. acquired a new stake in shares of ProShares UltraPro Short QQQ during the fourth quarter worth $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.