ProShares UltraShort QQQ (NYSEARCA:QID) Share Price Pass Below 200-Day Moving Average – Should You Sell?

ProShares UltraShort QQQ (NYSEARCA:QID)’s stock price passed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred 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 changing hands.

ProShares UltraShort QQQ Price Performance

The stock’s 50-day moving average is $14.65 and its two-hundred day moving average is $18.37.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of the business. Farther Finance Advisors LLC purchased a new stake in shares of ProShares UltraShort QQQ in the fourth quarter worth approximately $48,000. MWA Asset Management purchased a new position in ProShares UltraShort QQQ during the 1st quarter valued at $204,000. Waverly Advisors LLC purchased a new position in ProShares UltraShort QQQ during the 1st quarter valued at $205,000. Captrust Financial Advisors grew its position in ProShares UltraShort QQQ by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management bought a new position in ProShares UltraShort QQQ in the 4th quarter valued at $283,000.

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.