ProShares Short QQQ (NYSEARCA:PSQ) Shares Up 2.1% – Should You Buy?

ProShares Short QQQ (NYSEARCA:PSQ) traded up 2.1% on Friday . The stock traded as high as $40.37 and last traded at $40.37. 1,795,409 shares changed hands during mid-day trading, a decline of 56% from the average session volume of 4,059,248 shares. The stock had previously closed at $39.56.

ProShares Short QQQ Price Performance

The business has a 50 day moving average of $37.77 and a 200 day moving average of $38.29.

ProShares Short QQQ Cuts Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th will be issued a $0.3415 dividend. The ex-dividend date of this dividend is Wednesday, March 26th.

Hedge Funds Weigh In On ProShares Short QQQ

Large investors have recently modified their holdings of the stock. Spire Wealth Management bought a new position in shares of ProShares Short QQQ in the 4th quarter valued at about $101,000. JPMorgan Chase & Co. grew its holdings in ProShares Short QQQ by 62.4% during the 4th quarter. JPMorgan Chase & Co. now owns 4,459 shares of the company’s stock worth $167,000 after acquiring an additional 1,713 shares during the period. Intellectus Partners LLC bought a new stake in shares of ProShares Short QQQ during the 4th quarter valued at $206,000. Auour Investments LLC acquired a new position in shares of ProShares Short QQQ in the 4th quarter valued at $204,000. Finally, Headlands Technologies LLC bought a new position in shares of ProShares Short QQQ in the 4th quarter worth $217,000.

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.