ProShares Short QQQ (NYSEARCA:PSQ) Stock Price Up 4% – What’s Next?

ProShares Short QQQ (NYSEARCA:PSQ) shares shot up 4% during mid-day trading on Wednesday . The stock traded as high as $42.43 and last traded at $42.40. 5,131,908 shares changed hands during trading, an increase of 17% from the average session volume of 4,397,856 shares. The stock had previously closed at $40.76.

ProShares Short QQQ Trading Up 0.1 %

The stock’s fifty day simple moving average is $39.60 and its 200-day simple moving average is $38.44.

ProShares Short QQQ Cuts Dividend

The company also recently announced a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a dividend of $0.3415 per share. The ex-dividend date was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares Short QQQ

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