ProShares Short QQQ (NYSEARCA:PSQ) Sees Significant Decrease in Short Interest

ProShares Short QQQ (NYSEARCA:PSQ) was the target of a significant decrease in short interest in March. As of March 13th, there was short interest totaling 642,555 shares, a decrease of 42.9% from the February 26th total of 1,125,058 shares. Approximately 3.7% of the shares of the company are sold short. Based on an average daily trading volume, of 13,634,615 shares, the days-to-cover ratio is currently 0.0 days.

ProShares Short QQQ Stock Up 2.0%

Shares of NYSEARCA PSQ traded up $0.64 during trading on Friday, hitting $33.04. The company had a trading volume of 11,494,074 shares, compared to its average volume of 12,929,421. The stock has a 50 day simple moving average of $30.73 and a 200 day simple moving average of $30.66. ProShares Short QQQ has a 12 month low of $29.24 and a 12 month high of $46.98.

ProShares Short QQQ Cuts Dividend

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

Hedge Funds Weigh In On ProShares Short QQQ

Large investors have recently added to or reduced their stakes in the company. UBS Group AG increased its stake in shares of ProShares Short QQQ by 129.4% in the fourth quarter. UBS Group AG now owns 1,384,348 shares of the company’s stock worth $41,807,000 after purchasing an additional 780,849 shares in the last quarter. Stratos Wealth Advisors LLC purchased a new position in shares of ProShares Short QQQ during the 3rd quarter valued at $11,038,000. Jump Financial LLC bought a new position in ProShares Short QQQ in the 4th quarter worth $7,343,000. One Plus One Wealth Management LLC boosted its holdings in ProShares Short QQQ by 64.9% in the 4th quarter. One Plus One Wealth Management LLC now owns 436,318 shares of the company’s stock worth $13,177,000 after buying an additional 171,757 shares during the period. Finally, Balyasny Asset Management L.P. purchased a new stake in ProShares Short QQQ in the 4th quarter worth $4,961,000.

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.