ProShares Short QQQ (NYSEARCA:PSQ) Stock Price Up 1.6% – Should You Buy?

ProShares Short QQQ (NYSEARCA:PSQ)’s share price were up 1.6% during mid-day trading on Friday . The company traded as high as $37.98 and last traded at $37.74. Approximately 4,990,332 shares changed hands during trading, a decline of 11% from the average daily volume of 5,596,029 shares. The stock had previously closed at $37.13.

ProShares Short QQQ Trading Up 1.6 %

The company’s 50 day moving average price is $37.56 and its 200 day moving average price is $39.58.

Institutional Trading of ProShares Short QQQ

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Kaydan Wealth Management Inc. boosted its holdings in shares of ProShares Short QQQ by 99.8% in the 3rd quarter. Kaydan Wealth Management Inc. now owns 286,688 shares of the company’s stock valued at $11,307,000 after acquiring an additional 143,221 shares during the last quarter. Mirador Capital Partners LP purchased a new stake in ProShares Short QQQ in the third quarter valued at $5,135,000. Clarity Financial LLC acquired a new stake in ProShares Short QQQ during the 3rd quarter worth about $1,490,000. Integrated Wealth Concepts LLC purchased a new position in shares of ProShares Short QQQ during the 3rd quarter valued at about $1,371,000. Finally, West Michigan Advisors LLC acquired a new position in shares of ProShares Short QQQ in the 3rd quarter valued at about $1,188,000.

ProShares Short QQQ Company Profile

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.