ProShares UltraShort QQQ (NYSEARCA:QID) shares gapped down prior to trading on Thursday . The stock had previously closed at $36.88, but opened at $38.45. ProShares UltraShort QQQ shares last traded at $38.81, with a volume of 147490 shares trading hands.

An institutional investor recently bought a new position in ProShares UltraShort QQQ stock. Tower Research Capital LLC TRC acquired a new stake in ProShares UltraShort QQQ (NYSEARCA:QID) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 59,449 shares of the exchange traded fund’s stock, valued at approximately $2,484,000. Tower Research Capital LLC TRC owned 0.81% of ProShares UltraShort QQQ at the end of the most recent reporting period.

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About ProShares UltraShort QQQ (NYSEARCA:QID)

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.

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