ProShares Short QQQ (NYSEARCA:PSQ) Hits New 12-Month Low – Here’s Why

ProShares Short QQQ (NYSEARCA:PSQ)’s stock price hit a new 52-week low on Tuesday . The company traded as low as $34.89 and last traded at $34.91, with a volume of 1121052 shares traded. The stock had previously closed at $35.30.

ProShares Short QQQ Price Performance

The stock has a 50-day simple moving average of $37.11 and a two-hundred day simple moving average of $37.86.

Institutional Investors Weigh In On ProShares Short QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in PSQ. PNC Financial Services Group Inc. purchased a new stake in ProShares Short QQQ during the first quarter valued at $25,000. Banque Cantonale Vaudoise bought a new stake in ProShares Short QQQ during the 1st quarter worth approximately $98,000. JPMorgan Chase & Co. increased its stake in shares of ProShares Short QQQ by 62.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock worth $167,000 after purchasing an additional 1,713 shares in the last quarter. Intellectus Partners LLC bought a new stake in shares of ProShares Short QQQ during the 4th quarter valued at $206,000. Finally, Foundations Investment Advisors LLC bought a new stake in shares of ProShares Short QQQ during the 1st quarter valued at $229,000.

About ProShares Short QQQ

ProShares Short QQQ is focused on daily investment results that correspond to the inverse (opposite) of the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents non-financial domestic and international issues listed on The NASDAQ Stock Market. The Fund takes positions in financial instruments (including derivatives) that in combination should have similar daily return characteristics as the inverse of the NASDAQ-100 Index.