ProShares UltraShort QQQ (NYSEARCA:QID) gapped down before the market opened on Thursday . The stock had previously closed at $12.63, but opened at $12.37. ProShares UltraShort QQQ shares last traded at $12.37, with a volume of 9,800,000 shares.
The stock’s fifty day moving average is $14.10 and its 200-day moving average is $19.85.
A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Creative Planning acquired a new position in ProShares UltraShort QQQ during the first quarter worth $241,000. Bank of New York Mellon Corp raised its position in ProShares UltraShort QQQ by 5.1% during the fourth quarter. Bank of New York Mellon Corp now owns 14,003 shares of the exchange traded fund’s stock worth $329,000 after acquiring an additional 675 shares during the period. Morgan Stanley raised its position in ProShares UltraShort QQQ by 19.9% during the first quarter. Morgan Stanley now owns 17,960 shares of the exchange traded fund’s stock worth $417,000 after acquiring an additional 2,986 shares during the period. SG Americas Securities LLC acquired a new position in ProShares UltraShort QQQ during the first quarter worth $561,000. Finally, Wealthsource Partners LLC raised its position in ProShares UltraShort QQQ by 10.4% during the first quarter. Wealthsource Partners LLC now owns 29,800 shares of the exchange traded fund’s stock worth $692,000 after acquiring an additional 2,800 shares during the period.
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.
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