ProShares UltraShort QQQ (NYSEARCA:QID – Free Report)’s stock is going to reverse split on Thursday, November 19th. The 1-4 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, November 18th.
ProShares UltraShort QQQ Price Performance
Shares of NYSEARCA QID traded down $0.28 during trading hours on Wednesday, hitting $15.03. 26,130,693 shares of the stock were exchanged, compared to its average volume of 26,986,932. The company’s 50 day moving average is $13.87 and its 200 day moving average is $16.50. ProShares UltraShort QQQ has a one year low of $12.41 and a one year high of $24.52.
Institutional Investors Weigh In On ProShares UltraShort QQQ
A number of hedge funds have recently bought and sold shares of the company. Tidal Investments LLC acquired a new stake in shares of ProShares UltraShort QQQ in the second quarter valued at about $543,000. F&V Capital Management LLC bought a new position in shares of ProShares UltraShort QQQ in the second quarter worth about $338,000. Rothschild Capital Partners LLC bought a new position in shares of ProShares UltraShort QQQ in the second quarter worth about $4,201,000. Headlands Technologies LLC lifted its position in shares of ProShares UltraShort QQQ by 169.7% during the 2nd quarter. Headlands Technologies LLC now owns 70,440 shares of the exchange traded fund’s stock worth $954,000 after purchasing an additional 44,326 shares during the last quarter. Finally, Balefire LLC acquired a new position in shares of ProShares UltraShort QQQ during the 2nd quarter worth about $387,000.
ProShares UltraShort QQQ Company Profile
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. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.
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