ProShares UltraPro Short QQQ (NASDAQ:SQQQ) Sets New 52-Week Low – What’s Next?

Shares of ProShares UltraPro Short QQQ (NASDAQ:SQQQ) hit a new 52-week low during mid-day trading on Monday . The stock traded as low as $35.95 and last traded at $35.9060, with a volume of 10769128 shares. The stock had previously closed at $36.75.

ProShares UltraPro Short QQQ Trading Up 1.3%

The stock has a 50-day moving average price of $46.41 and a 200 day moving average price of $62.03.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. Quadrature Capital Ltd acquired a new stake in shares of ProShares UltraPro Short QQQ in the third quarter valued at approximately $33,368,000. IMC Chicago LLC raised its position in ProShares UltraPro Short QQQ by 267.3% in the 1st quarter. IMC Chicago LLC now owns 809,094 shares of the company’s stock valued at $65,124,000 after purchasing an additional 588,799 shares during the last quarter. Citigroup Inc. raised its position in ProShares UltraPro Short QQQ by 17.5% in the 3rd quarter. Citigroup Inc. now owns 714,260 shares of the company’s stock valued at $10,878,000 after purchasing an additional 106,243 shares during the last quarter. Flow Traders U.S. LLC boosted its stake in ProShares UltraPro Short QQQ by 168.5% during the 3rd quarter. Flow Traders U.S. LLC now owns 672,442 shares of the company’s stock worth $10,241,000 after purchasing an additional 421,972 shares during the period. Finally, Jump Financial LLC boosted its stake in ProShares UltraPro Short QQQ by 291.5% during the 3rd quarter. Jump Financial LLC now owns 558,887 shares of the company’s stock worth $8,512,000 after purchasing an additional 416,119 shares during the period.

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. The Fund invests in derivatives. It also invests in short-term cash instruments, which have a remaining maturity of 397 days or less and exhibit high quality credit profiles.