ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 12-Month Low – Time to Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) shares reached a new 52-week low during trading on Friday. The stock traded as low as $32.86 and last traded at $32.6960, with a volume of 13737256 shares trading hands. The stock had previously closed at $34.11.

ProShares UltraPro Short QQQ Trading Down 2.8%

The company’s fifty day moving average price is $38.69 and its two-hundred day moving average price is $46.56.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

Large investors have recently bought and sold shares of the stock. Parallel Advisors LLC grew its stake in shares of ProShares UltraPro Short QQQ by 104.0% during the 1st quarter. Parallel Advisors LLC now owns 814 shares of the company’s stock valued at $66,000 after buying an additional 415 shares during the period. Beacon Investment Advisory Services Inc. purchased a new position in shares of ProShares UltraPro Short QQQ in the 2nd quarter worth $46,000. PayPay Securities Corp raised its position in shares of ProShares UltraPro Short QQQ by 131.4% in the 2nd quarter. PayPay Securities Corp now owns 2,265 shares of the company’s stock worth $82,000 after buying an additional 1,286 shares during the period. Quantinno Capital Management LP acquired a new position in ProShares UltraPro Short QQQ in the first quarter valued at $201,000. Finally, J. Safra Sarasin Holding AG purchased a new stake in ProShares UltraPro Short QQQ during the first quarter valued at about $217,000.

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. 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.