ProShares Short QQQ (NYSEARCA:PSQ – Get Rating) were down 2.9% during trading on Thursday . The company traded as low as $13.65 and last traded at $13.66. Approximately 448,388 shares traded hands during trading, a decline of 99% from the average daily volume of 30,530,334 shares. The stock had previously closed at $14.07.
The business has a 50-day moving average price of $12.73 and a 200 day moving average price of $12.00.
A number of hedge funds have recently modified their holdings of the stock. Advisory Services Network LLC boosted its holdings in ProShares Short QQQ by 125.1% in the first quarter. Advisory Services Network LLC now owns 685,218 shares of the company’s stock worth $7,935,000 after acquiring an additional 380,815 shares in the last quarter. Strategic Wealth Partners Ltd. acquired a new stake in shares of ProShares Short QQQ in the first quarter worth approximately $264,000. Robinson Value Management Ltd. acquired a new stake in shares of ProShares Short QQQ in the first quarter worth approximately $539,000. Mirabella Financial Services LLP acquired a new stake in shares of ProShares Short QQQ in the first quarter worth approximately $198,000. Finally, Guardian Wealth Advisors LLC NC acquired a new position in ProShares Short QQQ during the first quarter worth $621,000.
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.
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