ProShares UltraShort QQQ (NYSEARCA:QID) Stock Cross Above Two Hundred Day Moving Average – Here’s Why

ProShares UltraShort QQQ (NYSEARCA:QID) shares crossed above its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $34.21 and traded as high as $36.08. ProShares UltraShort QQQ shares last traded at $35.79, with a volume of 9,302,280 shares.

ProShares UltraShort QQQ Trading Down 1.3 %

The firm’s 50 day moving average is $31.82 and its two-hundred day moving average is $34.18.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. PNC Financial Services Group Inc. acquired a new position in shares of ProShares UltraShort QQQ in the 4th quarter valued at $38,000. JPMorgan Chase & Co. acquired a new stake in ProShares UltraShort QQQ during the 4th quarter worth $42,000. SBI Securities Co. Ltd. acquired a new stake in ProShares UltraShort QQQ during the 4th quarter worth $53,000. Western Pacific Wealth Management LP purchased a new position in ProShares UltraShort QQQ during the 4th quarter worth $65,000. Finally, BNP Paribas Financial Markets raised its position in ProShares UltraShort QQQ by 259,700.0% during the 3rd quarter. BNP Paribas Financial Markets now owns 2,598 shares of the exchange traded fund’s stock worth $94,000 after buying an additional 2,597 shares during the last quarter.

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.