ProShares Short QQQ (NYSEARCA:PSQ) Stock Price Break Above 200 Day Moving Average – What’s Next?

Shares of ProShares Short QQQ (NYSEARCA:PSQ) crossed above its 200-day moving average during trading on Thursday. The stock has a 200-day moving average of $27.46 and traded as high as $28.31. ProShares Short QQQ shares last traded at $28.28, with a volume of 33,753,921 shares traded.

ProShares Short QQQ Trading Up 6.3%

The business’s 50-day moving average is $25.54 and its 200-day moving average is $27.46.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Vima LLC increased its position in shares of ProShares Short QQQ by 274.7% during the third quarter. Vima LLC now owns 2,342 shares of the company’s stock worth $58,000 after purchasing an additional 1,717 shares in the last quarter. Citizens Financial Group Inc. RI purchased a new position in ProShares Short QQQ in the 3rd quarter worth approximately $231,000. Tevis Investment Management purchased a new stake in shares of ProShares Short QQQ in the first quarter valued at approximately $241,000. Simplex Trading LLC purchased a new stake in shares of ProShares Short QQQ in the third quarter valued at approximately $272,000. Finally, Axiom Investment Management LLC purchased a new stake in shares of ProShares Short QQQ in the first quarter valued at approximately $354,000.

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.