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

Key Points

• ProShares UltraPro Short QQQ (NASDAQ:SQQQ) has reached a new 52-week low at $15.24, closing at $15.29 with significant trading volume.
• Several institutional investors have recently altered their positions, including Parallel Advisors LLC and Game Plan Financial Advisors LLC, with notable increases in their stakes during the first quarter.
• The fund aims for daily investment results that correspond to three times the inverse of the daily performance of the NASDAQ-100 Index, targeting investors looking to profit from market downturns.

ProShares UltraPro Short QQQ (NASDAQ:SQQQ - ) shares hit a new 52-week low on Tuesday . The stock traded as low as $15.24 and last traded at $15.29, with a volume of 86152154 shares changing hands. The stock had previously closed at $15.55.

ProShares UltraPro Short QQQ Price Performance

The company's 50-day moving average is $17.69 and its two-hundred day moving average is $25.31.

Institutional Trading of ProShares UltraPro Short QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the company. Parallel Advisors LLC purchased a new stake in ProShares UltraPro Short QQQ in the first quarter worth approximately $27,000. Redwood Park Advisors LLC boosted its stake in shares of 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 purchasing an additional 363 shares during the period. PayPay Securities Corp boosted 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 purchasing an additional 719 shares during the period. Game Plan Financial Advisors LLC boosted its stake in shares of ProShares UltraPro Short QQQ by 16,818.2% during the first quarter. Game Plan Financial Advisors LLC now owns 1,861 shares of the company's stock valued at $71,000 after purchasing an additional 1,850 shares during the period. Finally, MAI Capital Management purchased a new stake in shares of ProShares UltraPro Short QQQ during the second quarter valued at approximately $38,000.

About ProShares UltraPro Short QQQ

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.