ProShares Ultra QQQ (NYSEARCA:QLD) Hits New 1-Year High – What’s Next?

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) hit a new 52-week high during mid-day trading on Friday . The company traded as high as $144.21 and last traded at $144.31, with a volume of 1043737 shares. The stock had previously closed at $141.10.

ProShares Ultra QQQ Stock Up 2.0%

The business has a 50-day moving average price of $132.90 and a 200-day moving average price of $116.06. The firm has a market capitalization of $10.47 billion, a price-to-earnings ratio of 31.03 and a beta of 2.27.

Hedge Funds Weigh In On ProShares Ultra QQQ

A number of large investors have recently made changes to their positions in QLD. Beacon Capital Management Inc. acquired a new position in shares of ProShares Ultra QQQ during the second quarter worth $27,000. Elevation Point Wealth Partners LLC acquired a new position in shares of ProShares Ultra QQQ during the second quarter worth $38,000. Financial Consulate Inc. acquired a new position in shares of ProShares Ultra QQQ in the 3rd quarter valued at $78,000. IFP Advisors Inc increased its position in shares of ProShares Ultra QQQ by 80.2% in the 1st quarter. IFP Advisors Inc now owns 899 shares of the company’s stock valued at $80,000 after acquiring an additional 400 shares during the period. Finally, Spire Wealth Management increased its position in shares of ProShares Ultra QQQ by 15.7% in the 1st quarter. Spire Wealth Management now owns 1,144 shares of the company’s stock valued at $102,000 after acquiring an additional 155 shares during the period.

About ProShares Ultra QQQ

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.