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Asset Summary

Daily Performance Report for PSQ ETF: Nov 7, 2024

Summary: The day started with PSQ ETF opening at $38.29 and closing at $38.32. The ETF showed resilience throughout the day, with the highest price observed at $38.34 and the lowest at $38.29. The underlying asset had a trading range of $0.05 Overall, it was a positive trading day for PSQ ETF, reflecting investor optimism and market activity.

Change in Closing Price: There was a net increase of $0.03 or 0.08% in the closing price from the opening to the closing price over the day.

Volume Analysis: Trading volume for PSQ ETF was 10,093 units during Nov 7, 2024, indicating active market participation and investor interest.

Opening Price: The day started at $38.29.

Highest Price: The highest price observed during the day was $38.34.

Lowest Price: The lowest price observed during the day was $38.29.

Closing Price: The day ended at $38.32.

Asset Performance Metrics and Risk Characteristics:

Understanding asset performance is crucial for evaluating investment quality and making informed decisions. Metrics like trailing return and drawdown provide insights into how an asset has performed over time, its volatility, and the efficiency of its returns relative to risk. Performance indicators help assess the stability, risk, and reward of an investment, allowing investors and portfolio managers to make comparisons and strategize accordingly.

Asset Technical Analysis

Technical analysis involves evaluating an asset's price and volume data to forecast future movements and make informed trading decisions. By using various technical indicators and chart patterns, investors can gain insights into market trends, price momentum, and potential turning points. This section delves into essential technical metrics, including moving averages, pivot points, and other indicators that provide a snapshot of an asset's current technical stance. Analyzing these indicators helps investors identify entry and exit points, assess market sentiment, and refine their trading strategies. Explore the following technical analysis data to understand the asset's performance dynamics and make better-informed decisions.

Moving Averages

Moving Averages are commonly used to smooth out price data and identify trends over a specific period. Here’s a summary of the latest moving averages for various periods:

  • SMA (Simple Moving Average): Reflects the average price over a specific number of periods.
  • EMA (Exponential Moving Average): Gives more weight to recent prices, making it more responsive to new information.
  • WMA (Weighted Moving Average): Assigns a weight to each price, emphasizing more recent prices.
  • WEMA (Weighted Exponential Moving Average): Combines elements of both WMA and EMA for a more responsive moving average.

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Frequently Asked Questions

PSQ distributes dividends on a quarterly basis. These dividends are derived from the income generated by the underlying securities and derivative contracts in the ETF’s portfolio.

PSQ aims to provide -1x the daily performance of the NASDAQ-100 Index. For instance, if the NASDAQ-100 Index decreases by 1% in a day, PSQ seeks to increase by approximately 1%. Over longer periods, due to daily rebalancing and compounding effects, the long-term performance of PSQ may deviate from -1x the index’s performance.

PSQ is managed by ProShares. The fund achieves its inverse exposure through the use of financial derivatives such as futures contracts and swaps. These instruments are employed to create a portfolio that reflects -1x the daily return of the NASDAQ-100 Index.

Risks associated with PSQ include leverage risk, volatility risk, and the potential for significant tracking error. Since PSQ provides inverse exposure to the NASDAQ-100 Index, it can be highly volatile and may not perform as expected over longer periods due to compounding effects and daily rebalancing.

Yes, PSQ can be held in retirement accounts such as IRAs or 401(k)s. However, due to its inverse nature and high risk profile, it is important for investors to carefully evaluate their investment goals and risk tolerance before including PSQ in a retirement portfolio.

As of the latest update, PSQ has an expense ratio of approximately 0.75%. This fee is deducted from the fund’s assets and covers the costs associated with managing the ETF.

The historical performance of PSQ reflects its objective to deliver -1x the daily return of the NASDAQ-100 Index. Its long-term performance may differ from -1x the index’s performance due to daily rebalancing and compounding effects.

Factors that can affect PSQ’s performance include market volatility, changes in the NASDAQ-100 Index, the effectiveness of leverage implementation, and the costs associated with maintaining inverse exposure. Broader market conditions and macroeconomic factors also influence the ETF’s performance.

Similar ETFs to PSQ include ProShares UltraShort QQQ (QID), which seeks to provide -2x the daily return of the NASDAQ-100 Index, and ProShares UltraPro Short QQQ (SQQQ), which aims for -3x the daily return of the NASDAQ-100 Index. These ETFs offer varying degrees of inverse exposure to the NASDAQ-100 Index.

PSQ rebalances its portfolio daily to maintain its -1x exposure to the NASDAQ-100 Index. This daily adjustment involves reconfiguring its derivative positions to align with the fund's performance objective.

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