ProShares Short QQQ (NYSEARCA:PSQ) Short Interest Down 46.5% in May

ProShares Short QQQ (NYSEARCA:PSQ) was the recipient of a large drop in short interest in May. As of May 15th, there was short interest totaling 1,641,265 shares, a drop of 46.5% from the April 30th total of 3,067,382 shares. Based on an average trading volume of 7,732,912 shares, the days-to-cover ratio is currently 0.2 days. Currently, 8.8% of the shares of the stock are short sold.

Institutional Investors Weigh In On ProShares Short QQQ

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. ORG Partners LLC grew its holdings in ProShares Short QQQ by 120.0% during the 4th quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock valued at $31,000 after buying an additional 559 shares during the last quarter. BNP Paribas Financial Markets raised its holdings in shares of ProShares Short QQQ by 2,358.3% in the second quarter. BNP Paribas Financial Markets now owns 885 shares of the company’s stock worth $30,000 after acquiring an additional 849 shares during the last quarter. Two Sigma Securities LLC lifted its position in shares of ProShares Short QQQ by 3.2% in the second quarter. Two Sigma Securities LLC now owns 28,102 shares of the company’s stock valued at $946,000 after acquiring an additional 867 shares in the last quarter. Auour Investments LLC lifted its position in shares of ProShares Short QQQ by 14.3% in the first quarter. Auour Investments LLC now owns 12,646 shares of the company’s stock valued at $407,000 after acquiring an additional 1,583 shares in the last quarter. Finally, Litman Gregory Wealth Management LLC acquired a new stake in shares of ProShares Short QQQ during the fourth quarter valued at $51,000.

ProShares Short QQQ Stock Performance

PSQ traded up $0.09 during midday trading on Monday, reaching $25.38. 1,199,695 shares of the company’s stock were exchanged, compared to its average volume of 11,158,619. ProShares Short QQQ has a 1-year low of $25.18 and a 1-year high of $36.28. The business’s 50-day moving average price is $28.78 and its 200 day moving average price is $29.85.

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.