ProShares UltraShort QQQ (NYSEARCA:QID) Share Price Cross Above Two Hundred Day Moving Average – Should You Sell?

ProShares UltraShort QQQ (NYSEARCA:QID) passed above its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $20.82 and traded as high as $21.13. ProShares UltraShort QQQ shares last traded at $21.02, with a volume of 19,770,376 shares.

ProShares UltraShort QQQ Stock Down 1.0%

The firm’s 50-day moving average is $20.39 and its two-hundred day moving average is $20.82.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QID. SBI Securities Co. Ltd. boosted its position in shares of ProShares UltraShort QQQ by 103.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,438 shares of the exchange traded fund’s stock worth $87,000 after purchasing an additional 1,746 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. acquired a new position in ProShares UltraShort QQQ in the second quarter valued at about $190,000. Squarepoint Ops LLC raised its holdings in ProShares UltraShort QQQ by 137.3% during the 2nd quarter. Squarepoint Ops LLC now owns 61,515 shares of the exchange traded fund’s stock worth $1,558,000 after buying an additional 35,595 shares during the period. Group One Trading LLC lifted its stake in ProShares UltraShort QQQ by 1,051.2% in the second quarter. Group One Trading LLC now owns 55,604 shares of the exchange traded fund’s stock valued at $1,408,000 after buying an additional 50,774 shares in the last quarter. Finally, Two Sigma Securities LLC lifted its stake in ProShares UltraShort QQQ by 87.0% in the second quarter. Two Sigma Securities LLC now owns 17,370 shares of the exchange traded fund’s stock valued at $440,000 after buying an additional 8,082 shares in the last quarter.

ProShares UltraShort QQQ Company Profile

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.