Short Interest in ProShares Short QQQ (NYSEARCA:PSQ) Increases By 296.4%
by Renee Jackson · The Cerbat GemProShares Short QQQ (NYSEARCA:PSQ – Get Free Report) was the recipient of a significant increase in short interest during the month of March. As of March 31st, there was short interest totaling 2,546,966 shares, an increase of 296.4% from the March 15th total of 642,555 shares. Approximately 8.9% of the shares of the stock are sold short. Based on an average daily trading volume, of 13,192,414 shares, the days-to-cover ratio is currently 0.2 days.
Hedge Funds Weigh In On ProShares Short QQQ
Institutional investors and hedge funds have recently modified their holdings of the business. UBS Group AG boosted its position in shares of ProShares Short QQQ by 129.4% during the 4th quarter. UBS Group AG now owns 1,384,348 shares of the company’s stock worth $41,807,000 after purchasing an additional 780,849 shares in the last quarter. One Plus One Wealth Management LLC boosted its position in shares of ProShares Short QQQ by 64.9% during the 4th quarter. One Plus One Wealth Management LLC now owns 436,318 shares of the company’s stock worth $13,177,000 after purchasing an additional 171,757 shares in the last quarter. Stratos Wealth Advisors LLC bought a new position in shares of ProShares Short QQQ during the 3rd quarter worth about $11,038,000. Jump Financial LLC bought a new position in shares of ProShares Short QQQ in the 4th quarter worth $7,343,000. Finally, Game Creek Capital LP lifted its holdings in shares of ProShares Short QQQ by 20.4% in the 4th quarter. Game Creek Capital LP now owns 213,750 shares of the company’s stock worth $6,455,000 after purchasing an additional 36,250 shares in the last quarter.
ProShares Short QQQ Stock Performance
Shares of NYSEARCA:PSQ traded down $0.02 during midday trading on Friday, hitting $30.44. 5,949,475 shares of the stock were exchanged, compared to its average volume of 12,790,376. The business’s 50-day moving average price is $31.12 and its 200 day moving average price is $30.64. ProShares Short QQQ has a 12 month low of $29.24 and a 12 month high of $43.58.
ProShares Short QQQ Cuts Dividend
The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were issued a dividend of $0.1536 per share. This represents a $0.61 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Wednesday, March 25th.
About ProShares Short QQQ
ProShares Short QQQ is focused on daily investment results that correspond to the inverse (opposite) of the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents non-financial domestic and international issues listed on The NASDAQ Stock Market. The Fund takes positions in financial instruments (including derivatives) that in combination should have similar daily return characteristics as the inverse of the NASDAQ-100 Index. ProShares Short QQQ will not directly sell short the equity securities of issuers contained in the NASDAQ-100 Index.