ProShares Ultra Top QQQ (NASDAQ:QQUP) Short Interest Down 61.5% in July

ProShares Ultra Top QQQ (NASDAQ:QQUP) saw a large drop in short interest in July. As of July 15th, there was short interest totaling 426 shares, a drop of 61.5% from the June 30th total of 1,107 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average trading volume of 2,077 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On ProShares Ultra Top QQQ

A hedge fund recently bought a new stake in ProShares Ultra Top QQQ stock. BNP Paribas Financial Markets purchased a new position in ProShares Ultra Top QQQ (NASDAQ:QQUP) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 100,000 shares of the company’s stock, valued at approximately $4,389,000. BNP Paribas Financial Markets owned approximately 31.25% of ProShares Ultra Top QQQ at the end of the most recent reporting period.

ProShares Ultra Top QQQ Price Performance

QQUP traded up $1.06 during midday trading on Tuesday, reaching $55.62. The company’s stock had a trading volume of 3,270 shares, compared to its average volume of 9,800. ProShares Ultra Top QQQ has a 1 year low of $40.09 and a 1 year high of $70.28. The stock’s 50-day moving average is $60.26 and its 200-day moving average is $55.76.

ProShares Ultra Top QQQ Company Profile

ProShares Ultra Top QQQ seeks to deliver 2× the daily performance of the Nasdaq?100?Mega Index using swap-based leverage. It’s designed for short-term trading to gain amplified exposure to mega-cap tech, not for long-term investment.