ProShares UltraShort QQQ (NYSEARCA:QID) Sees Large Decrease in Short Interest

ProShares UltraShort QQQ (NYSEARCA:QID) saw a large decrease in short interest during the month of July. As of July 15th, there was short interest totaling 1,390,306 shares, a decrease of 33.8% from the June 30th total of 2,101,261 shares. Currently, 8.1% of the company’s shares are short sold. Based on an average trading volume of 12,680,543 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Investors Weigh In On ProShares UltraShort QQQ

Several hedge funds have recently bought and sold shares of QID. Farther Finance Advisors LLC bought a new position in shares of ProShares UltraShort QQQ during the fourth quarter worth $48,000. MWA Asset Management acquired a new position in shares of ProShares UltraShort QQQ in the 1st quarter valued at $204,000. Waverly Advisors LLC bought a new stake in shares of ProShares UltraShort QQQ in the 1st quarter valued at $205,000. Captrust Financial Advisors increased its position in shares of ProShares UltraShort QQQ by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after buying an additional 1,228 shares in the last quarter. Finally, Werba Rubin Papier Wealth Management bought a new stake in shares of ProShares UltraShort QQQ in the 4th quarter valued at $283,000.

ProShares UltraShort QQQ Trading Down 1.2%

Shares of NYSEARCA:QID opened at $15.43 on Friday. The firm’s 50 day simple moving average is $14.50 and its 200 day simple moving average is $17.80. ProShares UltraShort QQQ has a fifty-two week low of $13.39 and a fifty-two week high of $25.54.

About ProShares UltraShort QQQ

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.