ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Hits New 12-Month Low – What’s Next?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low on Tuesday . The company traded as low as $36.15 and last traded at $36.31, with a volume of 58346662 shares changing hands. The stock had previously closed at $40.04.

ProShares UltraPro Short QQQ Trading Up 3.1%

The stock has a 50-day simple moving average of $47.85 and a two-hundred day simple moving average of $62.48.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Quadrature Capital Ltd bought a new stake in ProShares UltraPro Short QQQ during the 3rd quarter valued at $33,368,000. IMC Chicago LLC raised its position in ProShares UltraPro Short QQQ by 267.3% during the 1st 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 in the last quarter. Citigroup Inc. raised its position in ProShares UltraPro Short QQQ by 17.5% during the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock valued at $10,878,000 after purchasing an additional 106,243 shares in the last quarter. Flow Traders U.S. LLC raised its position in ProShares UltraPro Short QQQ by 168.5% during the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock valued at $10,241,000 after purchasing an additional 421,972 shares in the last quarter. Finally, Jump Financial LLC raised its position in ProShares UltraPro Short QQQ by 291.5% during the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock valued at $8,512,000 after purchasing an additional 416,119 shares in the last quarter.

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.