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

ProShares Short QQQ (NYSEARCA:PSQ) saw a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 1,641,265 shares, a decline 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. Approximately 8.8% of the company’s shares are sold short.

ProShares Short QQQ Trading Down 0.5%

NYSEARCA PSQ traded down $0.12 during trading hours on Tuesday, hitting $25.04. 3,187,191 shares of the company were exchanged, compared to its average volume of 11,166,541. ProShares Short QQQ has a 52 week low of $25.03 and a 52 week high of $35.84. The stock has a 50-day moving average price of $28.65 and a 200 day moving average price of $29.82.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of PSQ. ORG Partners LLC boosted its holdings in shares of ProShares Short QQQ by 120.0% in the fourth quarter. ORG Partners LLC now owns 1,025 shares of the company’s stock valued at $31,000 after purchasing an additional 559 shares during the period. BNP Paribas Financial Markets boosted 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 valued at $30,000 after purchasing an additional 849 shares during the period. Two Sigma Securities LLC lifted its holdings in ProShares Short QQQ by 3.2% during the second quarter. Two Sigma Securities LLC now owns 28,102 shares of the company’s stock worth $946,000 after buying an additional 867 shares during the period. Auour Investments LLC lifted its holdings in ProShares Short QQQ by 14.3% during the first quarter. Auour Investments LLC now owns 12,646 shares of the company’s stock worth $407,000 after buying an additional 1,583 shares during the period. Finally, Litman Gregory Wealth Management LLC purchased a new stake in ProShares Short QQQ during the fourth quarter worth $51,000.

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.