ProShares UltraShort QQQ (NYSEARCA:QID) Stock Price Pass Above 200 Day Moving Average – Should You Sell?

Shares of ProShares UltraShort QQQ (NYSEARCA:QID) crossed above its 200-day moving average during trading on Wednesday . The stock has a 200-day moving average of $20.76 and traded as high as $22.12. ProShares UltraShort QQQ shares last traded at $21.96, with a volume of 16,093,183 shares traded.

ProShares UltraShort QQQ Price Performance

The firm’s 50 day moving average price is $20.69 and its two-hundred day moving average price is $20.76.

ProShares UltraShort QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be paid a $0.1471 dividend. This represents a $0.59 annualized dividend and a yield of 2.7%. The ex-dividend date of this dividend is Wednesday, March 25th.

Hedge Funds Weigh In On ProShares UltraShort QQQ

Several institutional investors have recently made changes to their positions in QID. Hamilton Wealth LLC bought a new position in shares of ProShares UltraShort QQQ during the 4th quarter worth about $1,103,000. Axxcess Wealth Management LLC raised its position in shares of ProShares UltraShort QQQ by 22.0% during the fourth quarter. Axxcess Wealth Management LLC now owns 65,068 shares of the exchange traded fund’s stock worth $1,314,000 after purchasing an additional 11,721 shares during the period. Sierra Capital LLC bought a new position in shares of ProShares UltraShort QQQ in the 4th quarter worth $288,000. Quadrature Capital Ltd bought a new position in shares of ProShares UltraShort QQQ in the 4th quarter worth $1,427,000. Finally, Jump Financial LLC acquired a new stake in ProShares UltraShort QQQ in the 4th quarter valued at $2,157,000.

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.