ProShares Ultra QQQ Sees Unusually Large Options Volume (NYSEARCA:QLD)

ProShares Ultra QQQ (NYSEARCA:QLD) was the target of some unusual options trading on Tuesday. Stock traders purchased 3,889 put options on the company. This is an increase of approximately 161% compared to the average volume of 1,492 put options.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several institutional investors and hedge funds have recently made changes to their positions in QLD. Portus Wealth Advisors LLC bought a new stake in shares of ProShares Ultra QQQ during the 1st quarter valued at about $26,000. Bullseye Investment Management LLC acquired a new position in ProShares Ultra QQQ in the second quarter valued at approximately $33,000. Monetary Solutions Ltd acquired a new stake in shares of ProShares Ultra QQQ during the 4th quarter worth approximately $59,000. Physician Wealth Advisors Inc. acquired a new stake in shares of ProShares Ultra QQQ during the 1st quarter worth approximately $66,000. Finally, IFP Advisors Inc lifted its holdings in shares of ProShares Ultra QQQ by 300.8% in the 4th 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.

ProShares Ultra QQQ Stock Down 1.3%

Shares of ProShares Ultra QQQ stock traded down $1.11 during trading hours on Tuesday, hitting $86.98. 1,663,124 shares of the company’s stock traded hands, compared to its average volume of 4,984,157. ProShares Ultra QQQ has a twelve month low of $56.60 and a twelve month high of $101.19. The company has a market cap of $13.27 billion, a PE ratio of 31.03 and a beta of 2.46. The stock has a 50 day simple moving average of $89.08 and a 200-day simple moving average of $83.61.

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.