ProShares UltraShort Top QQQ (NASDAQ:QQDN) Trading Up 2.4% – Still a Buy?

ProShares UltraShort Top QQQ (NASDAQ:QQDN)’s stock price were up 2.4% during trading on Tuesday . The stock traded as high as $21.25 and last traded at $21.1150. Approximately 1,052 shares were traded during trading, a decline of 68% from the average daily volume of 3,330 shares. The stock had previously closed at $20.63.

ProShares UltraShort Top QQQ Trading Up 0.8%

The firm has a fifty day moving average of $26.53 and a 200 day moving average of $26.58.

Institutional Investors Weigh In On ProShares UltraShort Top QQQ

A hedge fund recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets bought a new stake in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) during the 2nd quarter, according to its most recent filing with the SEC. The firm bought 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned 90.91% of ProShares UltraShort Top QQQ as of its most recent filing with the SEC.

About ProShares UltraShort Top QQQ

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.