Unusual Put Option Trade in PowerShares QQQ Trust Worth $6,732K

By 247patrick Updated Apr 21, 12:53PM EDT · Published Apr 21, 3:02AM EDT

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Unusual Put Option Trade in PowerShares QQQ Trust Worth $6,732K — © SARINYAPINNGAM / iStock via Getty Images

On April 20, 2023 at 14:41:36 ET an unusually large $6,732.00K block of Put contracts in PowerShares QQQ Trust (QQQ) was sold, with a strike price of $350.00 / share, expiring in 1 day(s) (on April 21, 2023). Fintel tracks all large options trades, and the premium spent on this trade was 4.27 sigmas above the mean, placing it in the 100.00th percentile of all recent large trades made in QQQ options.

This trade was first picked up on Fintel’s real time Unusual Option Trades tool, where unusual option trades are highlighted.

What is the Fund Sentiment?

There are 2474 funds or institutions reporting positions in PowerShares QQQ Trust. This is an increase of 128 owner(s) or 5.46% in the last quarter. Average portfolio weight of all funds dedicated to QQQ is 1.30%, a decrease of 29.98%. Total shares owned by institutions decreased in the last three months by 4.51% to 234,811K shares. The put/call ratio of QQQ is 1.78, indicating a bearish outlook.

What are Other Shareholders Doing?

Birchcreek Wealth Management holds 5K shares. In it’s prior filing, the firm reported owning 5K shares, representing an increase of 7.56%. The firm decreased its portfolio allocation in QQQ by 99.90% over the last quarter.

Atlas Financial Advisors holds 30K shares. In it’s prior filing, the firm reported owning 0K shares, representing an increase of 100.00%.

Cabot Wealth Management holds 1K shares. In it’s prior filing, the firm reported owning 1K shares, representing a decrease of 27.50%. The firm increased its portfolio allocation in QQQ by 88,286.91% over the last quarter.

Biondo Investment Advisors holds 1K shares. No change in the last quarter.

Advisors Capital Management holds 6K shares. In it’s prior filing, the firm reported owning 6K shares, representing an increase of 0.97%. The firm decreased its portfolio allocation in QQQ by 99.90% over the last quarter.

See all PowerShares QQQ Trust regulatory filings.

This article originally appeared on Fintel

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