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

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

ProShares UltraPro Short QQQ Trading Down 0.8%

The company’s 50-day simple moving average is $69.82 and its 200-day simple moving average is $69.42.

Institutional Trading of ProShares UltraPro Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Larson Financial Group LLC bought a new stake in ProShares UltraPro Short QQQ during the fourth quarter worth $29,000. Osaic Holdings Inc. raised 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 in the last quarter. Parallel Advisors LLC raised 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 in the last quarter. FNY Investment Advisers LLC raised 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 in the last quarter. Finally, Sunbelt Securities Inc. bought a new stake in ProShares UltraPro Short QQQ during the fourth 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.