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

ProShares Short QQQ (NYSEARCA:PSQ) shares hit a new 52-week low on Wednesday . The stock traded as low as $28.62 and last traded at $28.6460, with a volume of 196638 shares. The stock had previously closed at $28.88.

ProShares Short QQQ Price Performance

The firm has a 50-day moving average of $30.94 and a two-hundred day moving average of $30.54.

Institutional Inflows and Outflows

Several hedge funds have recently added to or reduced their stakes in the stock. ORG Partners LLC grew its stake in shares of ProShares Short QQQ by 120.0% during the fourth quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock valued at $31,000 after acquiring an additional 559 shares in the last quarter. BNP Paribas Financial Markets grew its stake in shares of ProShares Short QQQ by 2,358.3% during the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock valued at $30,000 after acquiring an additional 849 shares in the last quarter. Two Sigma Securities LLC grew its stake in shares of ProShares Short QQQ by 3.2% during the second quarter. Two Sigma Securities LLC now owns 28,102 shares of the company’s stock valued at $946,000 after acquiring an additional 867 shares in the last quarter. Auour Investments LLC grew its stake in shares of ProShares Short QQQ by 15.6% during the third quarter. Auour Investments LLC now owns 7,652 shares of the company’s stock valued at $238,000 after acquiring an additional 1,030 shares in the last quarter. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of ProShares Short QQQ during the fourth quarter valued at about $51,000.

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. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.