ProShares Short QQQ (NYSEARCA:PSQ) Sees Significant Decrease in Short Interest
by Michael Walen · The Markets DailyProShares Short QQQ (NYSEARCA:PSQ – Get Free Report) was the target of a large decrease in short interest during the month of March. As of March 13th, there was short interest totaling 642,555 shares, a decrease of 42.9% from the February 26th total of 1,125,058 shares. Based on an average daily volume of 13,634,615 shares, the short-interest ratio is currently 0.0 days. Currently, 3.7% of the shares of the stock are short sold.
ProShares Short QQQ Trading Up 2.0%
Shares of ProShares Short QQQ stock traded up $0.64 during trading on Friday, reaching $33.04. 11,494,074 shares of the stock traded hands, compared to its average volume of 12,929,421. ProShares Short QQQ has a 52-week low of $29.24 and a 52-week high of $46.98. The business has a fifty day simple moving average of $30.73 and a two-hundred day simple moving average of $30.66.
ProShares Short QQQ Cuts Dividend
The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be paid a dividend of $0.1536 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.61 dividend on an annualized basis and a yield of 1.9%.
Institutional Trading of ProShares Short QQQ
A number of large investors have recently added to or reduced their stakes in PSQ. BNP Paribas Financial Markets raised its holdings in shares of ProShares Short QQQ by 2,358.3% during the 2nd quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock worth $30,000 after acquiring an additional 849 shares in the last quarter. ORG Partners LLC grew its holdings in shares of ProShares Short QQQ by 120.0% in the fourth quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock valued at $31,000 after purchasing an additional 559 shares in the last quarter. PNC Financial Services Group Inc. raised its stake in ProShares Short QQQ by 146.7% during the second quarter. PNC Financial Services Group Inc. now owns 1,517 shares of the company’s stock valued at $51,000 after purchasing an additional 902 shares in the last quarter. Litman Gregory Wealth Management LLC purchased a new stake in ProShares Short QQQ during the fourth quarter valued at $51,000. Finally, Union Bancaire Privee UBP SA lifted its position in ProShares Short QQQ by 200.0% during the third quarter. Union Bancaire Privee UBP SA now owns 3,000 shares of the company’s stock valued at $93,000 after purchasing an additional 2,000 shares during the last quarter.
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. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.