PNC Financial Services Group Inc. Makes New $38,000 Investment in ProShares UltraShort QQQ (NYSEARCA:QID)

PNC Financial Services Group Inc. acquired a new stake in ProShares UltraShort QQQ (NYSEARCA:QID) in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 1,170 shares of the exchange traded fund’s stock, valued at approximately $38,000.

Other hedge funds also recently modified their holdings of the company. SBI Securities Co. Ltd. acquired a new position in ProShares UltraShort QQQ during the 4th quarter valued at $53,000. BNP Paribas Financial Markets raised its position in shares of ProShares UltraShort QQQ by 259,700.0% during the third quarter. BNP Paribas Financial Markets now owns 2,598 shares of the exchange traded fund’s stock valued at $94,000 after buying an additional 2,597 shares during the last quarter. Ridgepath Capital Management LLC acquired a new position in shares of ProShares UltraShort QQQ during the fourth quarter valued at about $4,887,000. Western Pacific Wealth Management LP bought a new stake in shares of ProShares UltraShort QQQ in the fourth quarter valued at about $65,000. Finally, Flow Traders U.S. LLC acquired a new stake in ProShares UltraShort QQQ during the third quarter worth about $894,000.

ProShares UltraShort QQQ Stock Up 2.6 %

ProShares UltraShort QQQ stock opened at $35.71 on Thursday. The business has a 50 day moving average price of $32.98 and a two-hundred day moving average price of $33.94. ProShares UltraShort QQQ has a 12 month low of $29.32 and a 12 month high of $51.87.

ProShares UltraShort QQQ Cuts Dividend

The company also recently announced a dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th will be paid a $0.3685 dividend. The ex-dividend date of this dividend is Wednesday, March 26th.

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.