ProShares Short QQQ Sees Unusually High Options Volume (NYSEARCA:PSQ)

ProShares Short QQQ (NYSEARCA:PSQ) was the recipient of unusually large options trading on Wednesday. Investors purchased 3,023 call options on the company. This is an increase of approximately 493% compared to the typical volume of 510 call options.

ProShares Short QQQ Trading Up 0.9%

Shares of PSQ stock opened at $30.20 on Friday. ProShares Short QQQ has a 12 month low of $29.34 and a 12 month high of $46.98. The business’s 50 day moving average is $30.33 and its two-hundred day moving average is $31.82.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of PSQ. BNP Paribas Financial Markets boosted its holdings in ProShares Short QQQ by 2,358.3% during the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock valued at $30,000 after acquiring an additional 849 shares during the period. Union Bancaire Privee UBP SA acquired a new position in shares of ProShares Short QQQ during the 2nd quarter worth about $34,000. PNC Financial Services Group Inc. boosted its stake in ProShares Short QQQ by 146.7% during the 2nd 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 during the period. Avior Wealth Management LLC acquired a new stake in ProShares Short QQQ in the 2nd quarter valued at approximately $207,000. Finally, West Michigan Advisors LLC acquired a new stake in ProShares Short QQQ in the 2nd quarter valued at approximately $220,000.

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. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.