ProShares UltraShort QQQ (NYSEARCA:QID) Stock Cross Below Two Hundred Day Moving Average – Should You Sell?

ProShares UltraShort QQQ (NYSEARCA:QID) crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.41 and traded as low as $14.30. ProShares UltraShort QQQ shares last traded at $14.57, with a volume of 13,340,464 shares trading hands.

ProShares UltraShort QQQ Stock Up 3.7%

The stock’s 50 day simple moving average is $14.70 and its two-hundred day simple moving average is $18.41.

Hedge Funds Weigh In On ProShares UltraShort QQQ

A number of institutional investors have recently added to or reduced their stakes in QID. Genesis Financial Group LLC purchased a new position in ProShares UltraShort QQQ during the first quarter worth about $5,067,000. HRT Financial LP acquired a new position in ProShares UltraShort QQQ in the 4th quarter valued at about $3,418,000. Jump Financial LLC purchased a new stake in shares of ProShares UltraShort QQQ in the 4th quarter valued at approximately $2,157,000. IMC Chicago LLC acquired a new stake in shares of ProShares UltraShort QQQ during the 1st quarter worth approximately $2,300,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of ProShares UltraShort QQQ during the 4th quarter worth approximately $1,427,000.

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.