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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) reached a new 52-week low during trading on Friday . The company traded as low as $40.68 and last traded at $40.9640, with a volume of 38294381 shares traded. The stock had previously closed at $41.96.

ProShares UltraPro Short QQQ Stock Performance

The business’s 50-day moving average price is $62.32 and its 200 day moving average price is $66.77.

Institutional Trading of ProShares UltraPro Short QQQ

Institutional investors have recently added to or reduced their stakes in the business. Larson Financial Group LLC bought a new position in shares of ProShares UltraPro Short QQQ during the fourth quarter worth about $29,000. Parallel Advisors LLC grew its position in shares of ProShares UltraPro Short QQQ by 105.4% during the third 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. lifted its stake in ProShares UltraPro Short QQQ by 47.2% during the second quarter. Osaic Holdings Inc. now owns 2,170 shares of the company’s stock valued at $42,000 after buying an additional 696 shares in the last quarter. FNY Investment Advisers LLC purchased a new stake in shares of ProShares UltraPro Short QQQ in the third quarter worth approximately $63,000. Finally, Sunbelt Securities Inc. purchased a new stake in shares of ProShares UltraPro Short QQQ in the fourth quarter worth approximately $137,000.

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.