ProShares Short QQQ (NYSEARCA:PSQ) Sees Strong Trading Volume – Time to Buy?

ProShares Short QQQ (NYSEARCA:PSQ) shares saw an uptick in trading volume on Wednesday . 6,513,680 shares were traded during mid-day trading, an increase of 48% from the previous session’s volume of 4,407,792 shares.The stock last traded at $38.87 and had previously closed at $38.85.

ProShares Short QQQ Trading Down 0.6 %

The business has a 50 day simple moving average of $36.84 and a two-hundred day simple moving average of $38.43.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Stableford Capital II LLC purchased a new position in shares of ProShares Short QQQ in the 4th quarter worth $12,091,000. Leuthold Group LLC raised its holdings in shares of ProShares Short QQQ by 1,230.3% in the 4th quarter. Leuthold Group LLC now owns 281,394 shares of the company’s stock worth $10,524,000 after purchasing an additional 260,242 shares during the period. Jump Financial LLC lifted its stake in shares of ProShares Short QQQ by 94.8% in the 4th quarter. Jump Financial LLC now owns 336,335 shares of the company’s stock valued at $12,579,000 after purchasing an additional 163,655 shares in the last quarter. Simplex Trading LLC grew its holdings in shares of ProShares Short QQQ by 36.6% during the 4th quarter. Simplex Trading LLC now owns 455,468 shares of the company’s stock worth $17,034,000 after purchasing an additional 121,932 shares during the period. Finally, AFG Fiduciary Services Limited Partnership increased its position in ProShares Short QQQ by 347.6% during the 4th quarter. AFG Fiduciary Services Limited Partnership now owns 131,406 shares of the company’s stock worth $4,871,000 after purchasing an additional 102,050 shares in the last quarter.

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.