Short Interest in ProShares Short QQQ (NYSEARCA:PSQ) Drops By 42.9%

ProShares Short QQQ (NYSEARCA:PSQ) saw a large decline in short interest during the month of March. As of March 13th, there was short interest totaling 642,555 shares, a decline of 42.9% from the February 26th total of 1,125,058 shares. Currently, 3.7% of the company’s stock are short sold. Based on an average daily trading volume, of 13,634,615 shares, the short-interest ratio is currently 0.0 days.

ProShares Short QQQ Trading Up 2.0%

Shares of PSQ traded up $0.64 during mid-day trading on Friday, reaching $33.04. The company’s stock had a trading volume of 11,494,074 shares, compared to its average volume of 12,929,421. ProShares Short QQQ has a 12-month low of $29.24 and a 12-month high of $46.98. The company’s 50 day moving average is $30.79 and its 200 day moving average is $30.64.

ProShares Short QQQ Cuts Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be paid a $0.1536 dividend. This represents a $0.61 annualized dividend and a yield of 1.9%. The ex-dividend date is Wednesday, March 25th.

Institutional Trading of ProShares Short QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. PNC Financial Services Group Inc. boosted its holdings in shares of ProShares Short QQQ by 146.7% in the 2nd quarter. PNC Financial Services Group Inc. now owns 1,517 shares of the company’s stock valued at $51,000 after buying an additional 902 shares in the last quarter. JPMorgan Chase & Co. grew its position in shares of ProShares Short QQQ by 190.2% in the 2nd quarter. JPMorgan Chase & Co. now owns 7,959 shares of the company’s stock valued at $268,000 after buying an additional 5,216 shares during the last quarter. Choreo LLC raised its stake in ProShares Short QQQ by 32.4% during the 2nd quarter. Choreo LLC now owns 9,561 shares of the company’s stock worth $327,000 after acquiring an additional 2,337 shares in the last quarter. Beacon Pointe Advisors LLC purchased a new stake in ProShares Short QQQ in the second quarter valued at $842,000. Finally, Per Stirling Capital Management LLC. lifted its position in ProShares Short QQQ by 161.6% in the second quarter. Per Stirling Capital Management LLC. now owns 44,303 shares of the company’s stock valued at $1,491,000 after acquiring an additional 27,368 shares during the last quarter.

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.