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

Shares of ProShares UltraShort QQQ (NYSEARCA:QID) crossed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $34.10 and traded as high as $38.05. ProShares UltraShort QQQ shares last traded at $37.70, with a volume of 4,069,396 shares traded.

ProShares UltraShort QQQ Stock Up 3.3 %

The company has a 50 day simple moving average of $32.59 and a 200-day simple moving average of $34.10.

Institutional Investors Weigh In On ProShares UltraShort QQQ

Institutional investors and hedge funds have recently made changes to their positions in the stock. Ridgepath Capital Management LLC bought a new position in ProShares UltraShort QQQ during the fourth quarter worth $4,887,000. Trek Financial LLC acquired a new stake in ProShares UltraShort QQQ during the fourth quarter worth approximately $2,375,000. Headlands Technologies LLC acquired a new position in shares of ProShares UltraShort QQQ in the fourth quarter valued at approximately $2,004,000. Squarepoint Ops LLC bought a new position in shares of ProShares UltraShort QQQ during the fourth quarter worth approximately $1,891,000. Finally, Tower Research Capital LLC TRC lifted its holdings 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 worth $1,112,000 after purchasing an additional 33,874 shares during the last quarter.

About ProShares UltraShort QQQ

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.