ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 12-Month Low – Should You Sell?

ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low on Thursday . The company traded as low as $51.93 and last traded at $53.0520, with a volume of 4543184 shares. The stock had previously closed at $53.08.

ProShares UltraPro Short QQQ Stock Performance

The stock has a 50 day moving average price of $69.82 and a two-hundred day moving average price of $69.42.

Hedge Funds Weigh In On ProShares UltraPro Short QQQ

A number of large investors have recently made changes to their positions in the company. Larson Financial Group LLC bought a new position in ProShares UltraPro Short QQQ during the fourth quarter worth about $29,000. Osaic Holdings Inc. increased its position 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 worth $42,000 after acquiring an additional 696 shares during the period. Parallel Advisors LLC increased its position in 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 period. FNY Investment Advisers LLC increased its position in ProShares UltraPro Short QQQ by 25.7% during the fourth quarter. FNY Investment Advisers LLC now owns 5,278 shares of the company’s stock worth $361,000 after acquiring an additional 1,078 shares during the period. Finally, Sunbelt Securities Inc. bought a new position in ProShares UltraPro Short QQQ during the fourth quarter worth about $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.