ProShares Short QQQ (NYSEARCA:PSQ) Stock Short Interest Jumps 125.1%

ProShares Short QQQ (NYSEARCA:PSQ) saw a large growth in short interest during the month of October. As of October 15th, there was short interest totaling 3,030,610 shares, a growth of 125.1% from the September 30th total of 1,346,344 shares. Based on an average daily trading volume, of 20,454,112 shares, the days-to-cover ratio is presently 0.1 days. Approximately 12.2% of the shares of the company are short sold.

Institutional Investors Weigh In On ProShares Short QQQ

Hedge funds have recently added to or reduced their stakes in the business. Arkadios Wealth Advisors purchased a new position in shares of ProShares Short QQQ during the 1st quarter valued at about $9,522,000. Oppenheimer & Co. Inc. acquired a new position in shares of ProShares Short QQQ in the 3rd quarter valued at about $6,499,000. Renaissance Technologies LLC purchased a new stake in shares of ProShares Short QQQ in the first quarter worth about $8,408,000. Financial Enhancement Group LLC purchased a new stake in shares of ProShares Short QQQ in the third quarter worth about $4,020,000. Finally, AFG Fiduciary Services Limited Partnership boosted its stake in shares of ProShares Short QQQ by 99.8% in the second quarter. AFG Fiduciary Services Limited Partnership now owns 129,962 shares of the company’s stock worth $3,365,000 after buying an additional 64,907 shares during the last quarter.

ProShares Short QQQ Stock Performance

NYSEARCA PSQ traded up $0.91 on Friday, hitting $26.63. 34,103,090 shares of the company’s stock traded hands, compared to its average volume of 11,880,104. ProShares Short QQQ has a 1-year low of $24.09 and a 1-year high of $33.47. The firm’s 50-day moving average price is $25.45 and its two-hundred day moving average price is $27.52.

ProShares Short QQQ Company Profile

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.