ProShares Short QQQ (NYSEARCA:PSQ) Sets New 1-Year Low – Should You Sell?

ProShares Short QQQ (NYSEARCA:PSQ)’s stock price hit a new 52-week low during mid-day trading on Friday . The company traded as low as $30.71 and last traded at $30.78, with a volume of 6725371 shares. The stock had previously closed at $30.90.

ProShares Short QQQ Trading Up 0.5%

The stock has a fifty day moving average price of $32.33 and a 200-day moving average price of $35.53.

Hedge Funds Weigh In On ProShares Short QQQ

A number of hedge funds have recently made changes to their positions in the business. PNC Financial Services Group Inc. acquired a new position in shares of ProShares Short QQQ during the 1st quarter valued at $25,000. BNP Paribas Financial Markets raised its position in ProShares Short QQQ by 2,358.3% in the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock valued at $30,000 after purchasing an additional 849 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of ProShares Short QQQ during the second quarter worth about $34,000. Banque Cantonale Vaudoise purchased a new stake in shares of ProShares Short QQQ in the first quarter worth about $98,000. Finally, Avior Wealth Management LLC acquired a new stake in shares of ProShares Short QQQ in the second quarter valued at about $207,000.

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.