ProShares Ultra QQQ (NYSEARCA:QLD) Short Interest Update

ProShares Ultra QQQ (NYSEARCA:QLD) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 1,097,811 shares, a drop of 55.8% from the August 15th total of 2,482,329 shares. Based on an average daily trading volume, of 3,319,080 shares, the short-interest ratio is currently 0.3 days. Approximately 0.7% of the company’s stock are sold short.

ProShares Ultra QQQ Stock Performance

NYSEARCA QLD traded down $1.14 during trading on Tuesday, reaching $86.96. 2,618,493 shares of the company’s stock were exchanged, compared to its average volume of 4,989,867. The stock has a market cap of $13.26 billion, a P/E ratio of 31.03 and a beta of 2.46. The company has a 50 day moving average price of $89.08 and a two-hundred day moving average price of $83.61. ProShares Ultra QQQ has a 1 year low of $56.60 and a 1 year high of $101.19.

Institutional Investors Weigh In On ProShares Ultra QQQ

Several hedge funds and other institutional investors have recently made changes to their positions in the business. Bullseye Investment Management LLC purchased a new stake in ProShares Ultra QQQ in the second quarter valued at $33,000. Portus Wealth Advisors LLC acquired a new position in ProShares Ultra QQQ in the first quarter valued at $26,000. Monetary Solutions Ltd purchased a new position in shares of ProShares Ultra QQQ during the fourth quarter worth about $59,000. IFP Advisors Inc grew its holdings in shares of ProShares Ultra QQQ by 300.8% during the fourth quarter. IFP Advisors Inc now owns 998 shares of the company’s stock worth $70,000 after purchasing an additional 749 shares during the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of ProShares Ultra QQQ during the first quarter worth about $66,000.

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