ProShares UltraShort Top QQQ (NASDAQ:QQDN) Trading Up 1.1% – Here’s What Happened

ProShares UltraShort Top QQQ (NASDAQ:QQDN)’s stock price shot up 1.1% on Tuesday . The stock traded as high as $21.25 and last traded at $21.20. Approximately 56 shares traded hands during trading, a decline of 98% from the average daily volume of 2,984 shares. The stock had previously closed at $20.96.

ProShares UltraShort Top QQQ Stock Performance

The company has a 50-day simple moving average of $22.63 and a 200-day simple moving average of $25.06.

Institutional Inflows and Outflows

An institutional investor recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets purchased a new stake in ProShares UltraShort Top QQQ (NASDAQ:QQDN) in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned about 90.91% of ProShares UltraShort Top QQQ as of its most recent filing with the Securities & Exchange Commission.

ProShares UltraShort Top QQQ Company Profile

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.