ProShares UltraShort QQQ (NYSEARCA:QID) Share Price Pass Above Two Hundred Day Moving Average – Time to Sell?

ProShares UltraShort QQQ (NYSEARCA:QID) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.76 and traded as high as $22.12. ProShares UltraShort QQQ shares last traded at $21.96, with a volume of 16,093,183 shares trading hands.

ProShares UltraShort QQQ Price Performance

The firm’s fifty day moving average is $20.75 and its two-hundred day moving average is $20.78.

ProShares UltraShort QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be given a dividend of $0.1471 per share. This represents a $0.59 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date is Wednesday, March 25th.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in QID. Captrust Financial Advisors increased its stake in shares of ProShares UltraShort QQQ by 15.5% during the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after acquiring an additional 1,228 shares during the period. Farther Finance Advisors LLC acquired a new stake in ProShares UltraShort QQQ in the fourth quarter worth approximately $48,000. Bogart Wealth LLC acquired a new stake in ProShares UltraShort QQQ in the third quarter worth approximately $73,000. Tower Research Capital LLC TRC boosted its stake in ProShares UltraShort QQQ by 30.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,717 shares of the exchange traded fund’s stock valued at $525,000 after purchasing an additional 4,803 shares in the last quarter. Finally, Thomas J. Herzfeld Advisors Inc. bought a new position in ProShares UltraShort QQQ during the 2nd quarter valued at $190,000.

ProShares UltraShort QQQ Company Profile

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.