ProShares UltraShort QQQ (NYSEARCA:QID) Shares Pass Below 200-Day Moving Average – What’s Next?

ProShares UltraShort QQQ (NYSEARCA:QID)’s share price crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $18.41 and traded as low as $14.30. ProShares UltraShort QQQ shares last traded at $14.57, with a volume of 13,340,464 shares trading hands.

ProShares UltraShort QQQ Stock Performance

The company has a 50 day moving average price of $14.70 and a two-hundred day moving average price of $18.41.

Institutional Trading of ProShares UltraShort QQQ

A number of institutional investors have recently made changes to their positions in QID. Genesis Financial Group LLC acquired a new position in ProShares UltraShort QQQ in the 1st quarter valued at $5,067,000. HRT Financial LP acquired a new stake in ProShares UltraShort QQQ during the 4th quarter worth $3,418,000. Jump Financial LLC purchased a new stake in shares of ProShares UltraShort QQQ during the fourth quarter worth $2,157,000. IMC Chicago LLC purchased a new stake in shares of ProShares UltraShort QQQ during the first quarter worth $2,300,000. Finally, Quadrature Capital Ltd acquired a new stake in shares of ProShares UltraShort QQQ in the fourth quarter valued at about $1,427,000.

About ProShares UltraShort QQQ

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.