ProShares Short QQQ (NYSEARCA:PSQ) Shares Gap Down – What’s Next?

ProShares Short QQQ (NYSEARCA:PSQ) shares gapped down before the market opened on Monday . The stock had previously closed at $38.29, but opened at $36.81. ProShares Short QQQ shares last traded at $37.05, with a volume of 873,749 shares.

ProShares Short QQQ Stock Performance

The stock’s 50 day simple moving average is $40.50 and its two-hundred day simple moving average is $38.46.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in PSQ. PNC Financial Services Group Inc. bought a new position in shares of ProShares Short QQQ in the first quarter valued at about $25,000. Banque Cantonale Vaudoise bought a new position in shares of ProShares Short QQQ in the first quarter valued at about $98,000. Spire Wealth Management bought a new position in shares of ProShares Short QQQ in the fourth quarter valued at about $101,000. JPMorgan Chase & Co. raised its holdings in shares of ProShares Short QQQ by 62.4% in the fourth quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock valued at $167,000 after buying an additional 1,713 shares during the last quarter. Finally, Auour Investments LLC bought a new position in shares of ProShares Short QQQ in the fourth quarter valued at about $204,000.

ProShares Short QQQ Company Profile

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.