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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) reached a new 52-week low during mid-day trading on Thursday . The company traded as low as $35.77 and last traded at $35.9290, with a volume of 19182943 shares changing hands. The stock had previously closed at $37.32.

ProShares UltraPro Short QQQ Trading Down 3.6%

The company’s fifty day moving average is $40.26 and its 200 day moving average is $54.77.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently modified their holdings of the stock. IMC Chicago LLC boosted its position in ProShares UltraPro Short QQQ by 267.3% during the first quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares during the last quarter. Jump Financial LLC increased its position in shares of ProShares UltraPro Short QQQ by 291.5% during the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock worth $8,512,000 after purchasing an additional 416,119 shares during the last quarter. Trivest Advisors Ltd acquired a new position in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $14,194,000. Squarepoint Ops LLC bought a new stake in shares of ProShares UltraPro Short QQQ during the 2nd quarter worth approximately $6,504,000. Finally, Goldman Sachs Group Inc. raised its stake in shares of ProShares UltraPro Short QQQ by 42.1% during the 4th quarter. Goldman Sachs Group Inc. now owns 290,209 shares of the company’s stock worth $19,879,000 after purchasing an additional 85,920 shares in the last quarter.

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. 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.