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

ProShares UltraShort QQQ (NYSEARCA:QID)’s share price crossed 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 changing hands.

ProShares UltraShort QQQ Stock Down 1.0%

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

Hedge Funds Weigh In On ProShares UltraShort QQQ

A number of hedge funds have recently added to or reduced their stakes in the company. Farther Finance Advisors LLC acquired a new stake in shares of ProShares UltraShort QQQ in the 4th quarter valued at $48,000. Bogart Wealth LLC acquired a new position in shares of ProShares UltraShort QQQ during the 3rd quarter valued at about $73,000. SBI Securities Co. Ltd. raised its stake 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 valued at $87,000 after acquiring an additional 1,746 shares in the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new stake in ProShares UltraShort QQQ during the second quarter worth approximately $190,000. Finally, Captrust Financial Advisors grew its holdings in ProShares UltraShort QQQ by 15.5% during the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after purchasing an additional 1,228 shares during the last quarter.

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.