ProShares UltraShort QQQ (NYSEARCA:QID) Stock Price Cross Above 200 Day Moving Average – What’s Next?

ProShares UltraShort QQQ (NYSEARCA:QID) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.82 and traded as high as $21.13. ProShares UltraShort QQQ shares last traded at $21.02, with a volume of 19,770,376 shares changing hands.

ProShares UltraShort QQQ Stock Up 0.6%

The stock’s 50-day moving average price is $20.43 and its 200 day moving average price is $20.83.

Hedge Funds Weigh In On ProShares UltraShort QQQ

Large investors have recently modified their holdings of the business. Thomas J. Herzfeld Advisors Inc. acquired a new stake in shares of ProShares UltraShort QQQ in the second quarter valued at about $190,000. Squarepoint Ops LLC grew its stake in ProShares UltraShort QQQ by 137.3% in the second quarter. Squarepoint Ops LLC now owns 61,515 shares of the exchange traded fund’s stock valued at $1,558,000 after purchasing an additional 35,595 shares in the last quarter. Group One Trading LLC increased its position in shares of ProShares UltraShort QQQ by 1,051.2% during the 2nd quarter. Group One Trading LLC now owns 55,604 shares of the exchange traded fund’s stock worth $1,408,000 after purchasing an additional 50,774 shares during the last quarter. Two Sigma Securities LLC increased its position in shares of ProShares UltraShort QQQ by 87.0% during the 2nd quarter. Two Sigma Securities LLC now owns 17,370 shares of the exchange traded fund’s stock worth $440,000 after purchasing an additional 8,082 shares during the last quarter. Finally, Captrust Financial Advisors raised its stake in shares of ProShares UltraShort QQQ by 15.5% during the 2nd quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock worth $232,000 after purchasing an additional 1,228 shares in the last quarter.

About ProShares UltraShort QQQ

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.