ProShares Short QQQ (NYSEARCA:PSQ) Sees Strong Trading Volume

Shares of ProShares Short QQQ (NYSEARCA:PSQ) saw unusually-strong trading volume on Tuesday . Approximately 2,116,435 shares were traded during trading, a decline of 44% from the previous session’s volume of 3,768,077 shares.The stock last traded at $46.17 and had previously closed at $46.61.

ProShares Short QQQ Stock Performance

The stock’s fifty day moving average is $44.70 and its two-hundred day moving average is $48.01.

Hedge Funds Weigh In On ProShares Short QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the stock. Jump Financial LLC purchased a new position in ProShares Short QQQ in the 4th quarter worth approximately $21,274,000. Udine Wealth Management Inc. grew its stake in ProShares Short QQQ by 266.0% in the 1st quarter. Udine Wealth Management Inc. now owns 1,509,250 shares of the company’s stock worth $13,221,000 after buying an additional 1,096,888 shares in the last quarter. UBS Group AG grew its stake in ProShares Short QQQ by 14.0% in the 3rd quarter. UBS Group AG now owns 1,504,457 shares of the company’s stock worth $16,384,000 after buying an additional 185,263 shares in the last quarter. Acute Investment Advisory LLC grew its stake in ProShares Short QQQ by 5.1% in the 4th quarter. Acute Investment Advisory LLC now owns 1,165,195 shares of the company’s stock worth $11,046,000 after buying an additional 56,441 shares in the last quarter. Finally, IMC Chicago LLC purchased a new position in ProShares Short QQQ in the 1st quarter worth approximately $9,151,000.

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.