ProShares Short QQQ (NYSEARCA:PSQ) Hits New 1-Year Low – What’s Next?

ProShares Short QQQ (NYSEARCA:PSQ)’s share price hit a new 52-week low during mid-day trading on Tuesday . The stock 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 Stock Performance

The business’s 50-day moving average is $37.11 and its 200-day moving average is $37.86.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in PSQ. PNC Financial Services Group Inc. bought a new position in shares of ProShares Short QQQ in the first quarter worth approximately $25,000. Banque Cantonale Vaudoise bought a new position in ProShares Short QQQ in the 1st quarter valued at approximately $98,000. JPMorgan Chase & Co. lifted its position in ProShares Short QQQ by 62.4% in the 4th quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock valued at $167,000 after acquiring an additional 1,713 shares in the last quarter. Intellectus Partners LLC purchased a new stake in ProShares Short QQQ during the 4th quarter valued at $206,000. Finally, Headlands Technologies LLC purchased a new stake in ProShares Short QQQ during the 4th quarter valued at $217,000.

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.