ProShares Short QQQ Target of Unusually Large Options Trading (NYSEARCA:PSQ)

ProShares Short QQQ (NYSEARCA:PSQ) was the target of unusually large options trading on Wednesday. Stock investors bought 3,023 call options on the stock. This represents an increase of approximately 493% compared to the average daily volume of 510 call options.

Institutional Trading of ProShares Short QQQ

Institutional investors and hedge funds have recently modified their holdings of the business. BNP Paribas Financial Markets lifted its stake in ProShares Short QQQ by 2,358.3% in the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock worth $30,000 after purchasing an additional 849 shares during the last quarter. Union Bancaire Privee UBP SA bought a new stake in shares of ProShares Short QQQ in the 2nd quarter valued at about $34,000. PNC Financial Services Group Inc. boosted its holdings in ProShares Short QQQ by 146.7% during the 2nd quarter. PNC Financial Services Group Inc. now owns 1,517 shares of the company’s stock valued at $51,000 after acquiring an additional 902 shares during the period. Avior Wealth Management LLC bought a new position in shares of ProShares Short QQQ in the second quarter worth approximately $207,000. Finally, West Michigan Advisors LLC bought a new stake in ProShares Short QQQ in the 2nd quarter worth $220,000.

ProShares Short QQQ Stock Up 0.2%

NYSEARCA:PSQ traded up $0.07 during trading hours on Wednesday, hitting $30.01. The stock had a trading volume of 5,202,249 shares, compared to its average volume of 6,229,117. The company has a 50 day simple moving average of $30.35 and a two-hundred day simple moving average of $31.85. ProShares Short QQQ has a one year low of $29.34 and a one year high of $46.98.

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.