ProShares Short QQQ (NYSEARCA:PSQ) Stock Price Down 1.9% – What’s Next?

ProShares Short QQQ (NYSEARCA:PSQ)’s share price were down 1.9% during mid-day trading on Friday . The company traded as low as $40.29 and last traded at $40.26. Approximately 2,092,635 shares were traded during mid-day trading, a decline of 58% from the average daily volume of 5,014,907 shares. The stock had previously closed at $41.05.

ProShares Short QQQ Price Performance

The firm has a 50-day moving average price of $37.27 and a two-hundred day moving average price of $38.43.

Hedge Funds Weigh In On ProShares Short QQQ

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

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.