ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Reaches New 1-Year Low – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during mid-day trading on Tuesday . The stock traded as low as $41.99 and last traded at $42.22, with a volume of 49278629 shares traded. The stock had previously closed at $42.57.

ProShares UltraPro Short QQQ Price Performance

The company’s fifty day moving average is $66.87 and its 200-day moving average is $68.19.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the business. Larson Financial Group LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $29,000. Parallel Advisors LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 105.4% during the 3rd quarter. Parallel Advisors LLC now owns 1,992 shares of the company’s stock worth $30,000 after acquiring an additional 1,022 shares during the last quarter. Osaic Holdings Inc. boosted its stake in shares of ProShares UltraPro Short QQQ by 47.2% during the 2nd quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock worth $42,000 after acquiring an additional 696 shares during the last quarter. FNY Investment Advisers LLC purchased a new position in shares of ProShares UltraPro Short QQQ during the 3rd quarter worth $63,000. Finally, Sunbelt Securities Inc. purchased a new position in shares of ProShares UltraPro Short QQQ during the 4th quarter worth $137,000.

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.