ProShares Short QQQ (NYSEARCA:PSQ) Sets New 52-Week Low – Here’s Why

ProShares Short QQQ (NYSEARCA:PSQ)’s share price hit a new 52-week low during trading on Wednesday . The company traded as low as $27.29 and last traded at $27.35, with a volume of 5988065 shares traded. The stock had previously closed at $27.70.

ProShares Short QQQ Trading Down 1.3%

The stock has a fifty day moving average of $30.51 and a 200 day moving average of $30.38.

Institutional Trading of ProShares Short QQQ

A number of hedge funds have recently bought and sold shares of PSQ. BNP Paribas Financial Markets lifted its holdings in ProShares Short QQQ by 2,358.3% during the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock worth $30,000 after acquiring an additional 849 shares during the period. ORG Partners LLC lifted its holdings in ProShares Short QQQ by 120.0% during the fourth quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock worth $31,000 after acquiring an additional 559 shares during the period. Litman Gregory Wealth Management LLC bought a new stake in ProShares Short QQQ during the fourth quarter worth $51,000. Banque Cantonale Vaudoise bought a new stake in ProShares Short QQQ during the first quarter worth $104,000. Finally, Union Bancaire Privee UBP SA lifted its holdings in ProShares Short QQQ by 66.7% during the fourth quarter. Union Bancaire Privee UBP SA now owns 5,000 shares of the company’s stock worth $151,000 after acquiring an additional 2,000 shares during the period.

About ProShares Short QQQ

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.