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

ProShares UltraPro Short QQQ (NASDAQ:SQQQ)’s stock price reached a new 52-week low on Tuesday . The company traded as low as $21.33 and last traded at $21.38, with a volume of 27478204 shares traded. The stock had previously closed at $22.12.

ProShares UltraPro Short QQQ Price Performance

The company has a 50 day simple moving average of $26.99 and a 200-day simple moving average of $30.53.

Institutional Investors Weigh In On ProShares UltraPro Short QQQ

A number of hedge funds have recently made changes to their positions in the business. Parallel Advisors LLC purchased a new position in ProShares UltraPro Short QQQ in the 1st quarter worth $27,000. Redwood Park Advisors LLC boosted its position in ProShares UltraPro Short QQQ by 69.3% during the first quarter. Redwood Park Advisors LLC now owns 887 shares of the company’s stock valued at $34,000 after buying an additional 363 shares during the period. PayPay Securities Corp grew its stake in shares of ProShares UltraPro Short QQQ by 85.9% during the first quarter. PayPay Securities Corp now owns 1,556 shares of the company’s stock valued at $60,000 after buying an additional 719 shares during the last quarter. Game Plan Financial Advisors LLC increased its holdings in shares of ProShares UltraPro Short QQQ by 16,818.2% in the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company’s stock worth $71,000 after buying an additional 1,850 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in shares of ProShares UltraPro Short QQQ in the 1st quarter valued at about $100,000.

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.