Launched just a month ago, ProShares Short QQQ (PSQ) has the best performance of exchange traded funds for the month, up 9%. The daily objective of this ETF is to inverse the Nasdaq 100 Index. This and three other short ETFs were designed to provide short exposure to well-known market indexes, seeking daily investment results that correspond to the inverse of those indexes, before fees and expenses.
If you are thinking of using this ETF in your portfolio, keep in mind there is not a 200-day moving average, since it isn’t 200 days old yet. Consider a 5% stop-loss on the position.
The opinions and forecasts expressed herein are solely those of Tom Lydon, and may not actually come to pass. Information on this site should not be used or construed as an offer to sell, a solicitation of an offer to buy, or a recommendation for any product.