ProShares Ultra QQQ (NYSEARCA:QLD) Sees Large Volume Increase – Time to Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) saw an uptick in trading volume on Friday . 3,962,757 shares changed hands during mid-day trading, an increase of 34% from the previous session’s volume of 2,968,240 shares.The stock last traded at $105.80 and had previously closed at $109.73.

ProShares Ultra QQQ Stock Performance

The firm’s 50 day moving average is $110.34 and its 200 day moving average is $102.09. The stock has a market cap of $7.27 billion, a P/E ratio of 25.00 and a beta of 2.55.

Institutional Trading of ProShares Ultra QQQ

Hedge funds and other institutional investors have recently made changes to their positions in the business. Commonwealth Equity Services LLC purchased a new position in shares of ProShares Ultra QQQ in the 2nd quarter valued at approximately $217,000. Headlands Technologies LLC raised its holdings in shares of ProShares Ultra QQQ by 200.9% in the second quarter. Headlands Technologies LLC now owns 2,227 shares of the company’s stock worth $222,000 after buying an additional 1,487 shares during the last quarter. Thoroughbred Financial Services LLC purchased a new stake in shares of ProShares Ultra QQQ during the second quarter valued at $312,000. Edgestream Partners L.P. acquired a new position in shares of ProShares Ultra QQQ in the 2nd quarter valued at $476,000. Finally, Clearstead Trust LLC raised its stake in ProShares Ultra QQQ by 1.7% in the 2nd quarter. Clearstead Trust LLC now owns 370,857 shares of the company’s stock worth $37,015,000 after acquiring an additional 6,105 shares during the last quarter.

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.