ProShares Short QQQ (NYSEARCA:PSQ) Shares Gap Up – Time to Buy?

ProShares Short QQQ (NYSEARCA:PSQ)’s share price gapped up prior to trading on Thursday . The stock had previously closed at $40.02, but opened at $41.72. ProShares Short QQQ shares last traded at $41.69, with a volume of 1,361,048 shares traded.

ProShares Short QQQ Stock Performance

The business’s 50-day moving average is $38.08 and its 200-day moving average is $38.23.

ProShares Short QQQ Cuts Dividend

The business also recently declared a dividend, which was paid on Tuesday, April 1st. Stockholders of record on Wednesday, March 26th were given a $0.3415 dividend. The ex-dividend date was Wednesday, March 26th.

Hedge Funds Weigh In On ProShares Short QQQ

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