ProShares Short QQQ (NYSEARCA:PSQ) Sees Large Growth in Short Interest

ProShares Short QQQ (NYSEARCA:PSQ – Get Free Report) was the target of a significant growth in short interest in October. As of October 15th, there was short interest totaling 3,030,610 shares, a growth of 125.1% from the September 30th total of 1,346,344 shares. Based on an average daily trading volume, of 20,454,112 shares, the days-to-cover ratio is currently 0.1 days. Currently, 12.2% of the shares of the stock are short sold.

ProShares Short QQQ Price Performance

NYSEARCA PSQ traded up $0.91 on Friday, reaching $26.63. The company’s stock had a trading volume of 33,938,096 shares, compared to its average volume of 11,879,256. The firm’s 50 day moving average is $25.44 and its two-hundred day moving average is $27.53. ProShares Short QQQ has a twelve month low of $24.09 and a twelve month high of $33.47.

Institutional Investors Weigh In On ProShares Short QQQ

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Arkadios Wealth Advisors acquired a new position in shares of ProShares Short QQQ in the 1st quarter worth $9,522,000. Oppenheimer & Co. Inc. purchased a new position in ProShares Short QQQ in the 3rd quarter worth about $6,499,000. Renaissance Technologies LLC acquired a new stake in ProShares Short QQQ during the 1st quarter worth about $8,408,000. Financial Enhancement Group LLC acquired a new stake in ProShares Short QQQ during the 3rd quarter worth about $4,020,000. Finally, Lesa Sroufe & Co purchased a new stake in ProShares Short QQQ during the third quarter valued at about $2,775,000.

About ProShares Short QQQ

(Get Free Report)

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.

Further Reading

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