ProShares UltraShort QQQ (NYSEARCA:QID) Stock Pass Above 200-Day Moving Average – Time to Sell?

ProShares UltraShort QQQ (NYSEARCA:QID)’s share price passed above its two hundred day moving average during trading on Monday . The stock has a two hundred day moving average of $34.11 and traded as high as $38.09. ProShares UltraShort QQQ shares last traded at $37.29, with a volume of 9,609,785 shares traded.

ProShares UltraShort QQQ Stock Performance

The business has a 50 day moving average price of $35.63 and a 200 day moving average price of $34.11.

ProShares UltraShort QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were issued a $0.3685 dividend. The ex-dividend date of this dividend was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares UltraShort QQQ

Large investors have recently added to or reduced their stakes in the company. Andrew Hill Investment Advisors Inc. purchased a new position in ProShares UltraShort QQQ in the 1st quarter worth $2,922,000. Squarepoint Ops LLC acquired a new position in ProShares UltraShort QQQ in the 4th quarter worth approximately $1,891,000. Southport Management L.L.C. raised its position in ProShares UltraShort QQQ by 13.0% during the 4th quarter. Southport Management L.L.C. now owns 30,500 shares of the exchange traded fund’s stock worth $997,000 after buying an additional 3,500 shares during the last quarter. Two Sigma Securities LLC purchased a new position in ProShares UltraShort QQQ during the 4th quarter worth approximately $478,000. Finally, Tower Research Capital LLC TRC lifted its stake in ProShares UltraShort QQQ by 25,858.0% during the 4th quarter. Tower Research Capital LLC TRC now owns 34,005 shares of the exchange traded fund’s stock valued at $1,112,000 after acquiring an additional 33,874 shares during the period.

ProShares UltraShort QQQ Company Profile

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.