ProShares Short QQQ (NYSEARCA:PSQ) Shares Break Below 50-Day Moving Average – Here’s What Happened

Shares of ProShares Short QQQ (NYSEARCA:PSQ) passed below its fifty day moving average during trading on Wednesday. The stock has a fifty day moving average of $25.44 and traded as low as $25.35. ProShares Short QQQ shares last traded at $25.36, with a volume of 28,874,266 shares changing hands.

ProShares Short QQQ Price Performance

The business’s fifty day simple moving average is $25.45 and its two-hundred day simple moving average is $27.52.

Institutional Investors Weigh In On ProShares Short QQQ

A number of institutional investors have recently modified their holdings of the business. Vima LLC raised its holdings in ProShares Short QQQ by 274.7% in the 3rd quarter. Vima LLC now owns 2,342 shares of the company’s stock worth $58,000 after purchasing an additional 1,717 shares during the period. Tevis Investment Management purchased a new position in ProShares Short QQQ during the first quarter worth approximately $241,000. Citizens Financial Group Inc. RI acquired a new stake in ProShares Short QQQ in the third quarter valued at approximately $231,000. Axiom Investment Management LLC acquired a new stake in ProShares Short QQQ in the first quarter valued at approximately $354,000. Finally, Independent Financial Group LLC acquired a new stake in ProShares Short QQQ in the first quarter valued at approximately $448,000.

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. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.