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

ProShares Short QQQ (NYSEARCA:PSQ) reached a new 52-week low during mid-day trading on Wednesday . The company traded as low as $29.21 and last traded at $29.2050, with a volume of 6135254 shares. The stock had previously closed at $29.59.

ProShares Short QQQ Stock Down 1.3%

The stock’s 50 day simple moving average is $31.04 and its two-hundred day simple moving average is $30.59.

ProShares Short QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were issued a $0.1536 dividend. This represents a $0.61 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date was Wednesday, March 25th.

Institutional Trading of ProShares Short QQQ

A number of hedge funds and other institutional investors have recently made changes to their positions in PSQ. XTX Topco Ltd bought a new stake in ProShares Short QQQ during the 4th quarter worth about $371,000. IHT Wealth Management LLC grew its stake in ProShares Short QQQ by 1,155.4% in the fourth quarter. IHT Wealth Management LLC now owns 145,000 shares of the company’s stock valued at $4,379,000 after purchasing an additional 133,450 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in ProShares Short QQQ in the fourth quarter valued at approximately $4,961,000. Camarda Financial Advisors LLC grew its stake in ProShares Short QQQ by 67.4% in the fourth quarter. Camarda Financial Advisors LLC now owns 41,038 shares of the company’s stock valued at $1,239,000 after purchasing an additional 16,530 shares in the last quarter. Finally, Game Creek Capital LP grew its stake in ProShares Short QQQ by 20.4% in the fourth quarter. Game Creek Capital LP now owns 213,750 shares of the company’s stock valued at $6,455,000 after purchasing an additional 36,250 shares in the last quarter.

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.