ProShares UltraShort QQQ (NYSEARCA:QID) Sees Large Volume Increase

ProShares UltraShort QQQ (NYSEARCA:QID) saw unusually-strong trading volume on Thursday . Approximately 1,347,126 shares were traded during mid-day trading, a decline of 66% from the previous session’s volume of 3,983,296 shares.The stock last traded at $45.73 and had previously closed at $46.09.

ProShares UltraShort QQQ Trading Up 3.3 %

The firm’s 50-day moving average is $46.44 and its 200-day moving average is $55.45.

Hedge Funds Weigh In On ProShares UltraShort QQQ

A number of institutional investors have recently bought and sold shares of QID. Avior Wealth Management LLC bought a new stake in ProShares UltraShort QQQ during the 3rd quarter worth approximately $28,000. Nelson Van Denburg & Campbell Wealth Management Group LLC bought a new stake in shares of ProShares UltraShort QQQ during the 1st quarter valued at $28,000. Advisor Group Holdings Inc. purchased a new position in shares of ProShares UltraShort QQQ during the 1st quarter valued at $32,000. Citigroup Inc. boosted its holdings in ProShares UltraShort QQQ by 212.5% in the 1st quarter. Citigroup Inc. now owns 2,500 shares of the exchange traded fund’s stock worth $44,000 after buying an additional 1,700 shares during the period. Finally, Sunbelt Securities Inc. purchased a new stake in ProShares UltraShort QQQ in the 1st quarter worth $54,000.

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.