ProShares Short QQQ (NYSEARCA:PSQ) Sees Large Volume Increase – Here’s What Happened

Shares of ProShares Short QQQ (NYSEARCA:PSQ) saw unusually-strong trading volume on Wednesday . Approximately 4,859,672 shares were traded during mid-day trading, an increase of 13% from the previous session’s volume of 4,302,730 shares.The stock last traded at $45.10 and had previously closed at $45.55.

ProShares Short QQQ Trading Down 1.4 %

The firm’s fifty day moving average price is $38.88 and its 200-day moving average price is $38.35.

ProShares Short QQQ Cuts Dividend

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

Institutional Investors Weigh In On ProShares Short QQQ

Institutional investors have recently added to or reduced their stakes in the company. Belpointe Asset Management LLC raised its position in ProShares Short QQQ by 1.3% during the fourth quarter. Belpointe Asset Management LLC now owns 67,208 shares of the company’s stock valued at $2,756,000 after buying an additional 894 shares during the period. JPMorgan Chase & Co. lifted 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 in the last quarter. Atomi Financial Group Inc. raised its holdings in shares of ProShares Short QQQ by 3.7% during the fourth quarter. Atomi Financial Group Inc. now owns 60,261 shares of the company’s stock worth $2,254,000 after acquiring an additional 2,149 shares in the last quarter. Spire Wealth Management bought a new position in ProShares Short QQQ during the fourth quarter valued at approximately $101,000. Finally, Hedges Asset Management LLC grew its position in ProShares Short QQQ by 3.5% in the fourth quarter. Hedges Asset Management LLC now owns 95,700 shares of the company’s stock worth $3,579,000 after acquiring an additional 3,200 shares in the last quarter.

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.