ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 12-Month High – Here’s What Happened

ProShares Ultra QQQ (NYSEARCA:QLD) shares hit a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $141.23 and last traded at $140.47, with a volume of 1844962 shares changing hands. The stock had previously closed at $138.38.

ProShares Ultra QQQ Stock Up 1.5%

The company has a 50 day moving average of $128.89 and a 200 day moving average of $111.02. The stock has a market capitalization of $10.11 billion, a price-to-earnings ratio of 31.03 and a beta of 2.27.

Hedge Funds Weigh In On ProShares Ultra QQQ

Hedge funds have recently made changes to their positions in the stock. Howard Capital Management Inc. increased its holdings in shares of ProShares Ultra QQQ by 7,370.9% during the 2nd quarter. Howard Capital Management Inc. now owns 6,471,937 shares of the company’s stock worth $762,617,000 after buying an additional 6,385,308 shares during the last quarter. Global View Capital Management LLC boosted its position in shares of ProShares Ultra QQQ by 45.2% in the second quarter. Global View Capital Management LLC now owns 816,412 shares of the company’s stock worth $96,100,000 after buying an additional 254,025 shares during the period. Main Street Group LTD grew its stake in shares of ProShares Ultra QQQ by 4.9% in the second quarter. Main Street Group LTD now owns 535,088 shares of the company’s stock valued at $62,985,000 after buying an additional 25,033 shares in the last quarter. Clearstead Trust LLC raised its holdings in shares of ProShares Ultra QQQ by 1.7% during the 2nd quarter. Clearstead Trust LLC now owns 362,025 shares of the company’s stock valued at $42,614,000 after buying an additional 6,014 shares during the period. Finally, Quadrature Capital Ltd acquired a new position in ProShares Ultra QQQ during the 2nd quarter worth approximately $39,925,000.

ProShares Ultra QQQ Company Profile

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.