ProShares Ultra QQQ (NYSEARCA:QLD) Sees Significant Drop in Short Interest

ProShares Ultra QQQ (NYSEARCA:QLD) saw a significant decrease in short interest in June. As of June 30th, there was short interest totaling 1,142,127 shares, a decrease of 41.9% from the June 15th total of 1,965,191 shares. Based on an average daily volume of 4,402,051 shares, the short-interest ratio is presently 0.3 days. Approximately 0.8% of the shares of the stock are sold short.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several hedge funds have recently bought and sold shares of the stock. Howard Capital Management Inc. boosted its stake in shares of ProShares Ultra QQQ by 95.4% during the fourth quarter. Howard Capital Management Inc. now owns 12,277,706 shares of the company’s stock valued at $864,473,000 after acquiring an additional 5,993,035 shares during the last quarter. Global View Capital Management LLC raised its stake in ProShares Ultra QQQ by 116.2% in the 4th quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock valued at $126,916,000 after purchasing an additional 968,727 shares during the last quarter. Main Street Group LTD lifted its holdings in ProShares Ultra QQQ by 89.9% in the 4th quarter. Main Street Group LTD now owns 1,039,176 shares of the company’s stock valued at $73,168,000 after purchasing an additional 491,865 shares in the last quarter. Clearstead Trust LLC boosted its stake in shares of ProShares Ultra QQQ by 102.4% during the 4th quarter. Clearstead Trust LLC now owns 731,539 shares of the company’s stock worth $51,508,000 after purchasing an additional 370,086 shares during the last quarter. Finally, Focus Financial Network Inc. grew its holdings in shares of ProShares Ultra QQQ by 100.1% during the fourth quarter. Focus Financial Network Inc. now owns 599,334 shares of the company’s stock worth $42,199,000 after buying an additional 299,761 shares in the last quarter.

ProShares Ultra QQQ Stock Down 3.3%

Shares of QLD traded down $3.04 during mid-day trading on Thursday, reaching $88.57. 4,152,441 shares of the company’s stock were exchanged, compared to its average volume of 5,281,104. The company has a 50-day simple moving average of $93.30 and a two-hundred day simple moving average of $78.10. ProShares Ultra QQQ has a 52-week low of $56.60 and a 52-week high of $101.19. The company has a market cap of $13.37 billion, a price-to-earnings ratio of 31.03 and a beta of 2.45.

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. The Index is calculated under a modified capitalization-weighted methodology.