ProShares UltraShort Top QQQ (NASDAQ:QQDN) Sees Large Increase in Short Interest

ProShares UltraShort Top QQQ (NASDAQ:QQDN) was the recipient of a large growth in short interest during the month of June. As of June 15th, there was short interest totaling 3,447 shares, a growth of 304.1% from the May 31st total of 853 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily volume of 5,708 shares, the days-to-cover ratio is presently 0.6 days.

ProShares UltraShort Top QQQ Stock Performance

Shares of ProShares UltraShort Top QQQ stock traded down $0.57 on Friday, hitting $25.52. 1,064 shares of the company’s stock traded hands, compared to its average volume of 3,386. The firm’s 50-day moving average price is $22.35 and its two-hundred day moving average price is $26.02. ProShares UltraShort Top QQQ has a one year low of $19.63 and a one year high of $38.04.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets acquired a new position in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned 90.91% of ProShares UltraShort Top QQQ at the end of the most recent reporting period.

About ProShares UltraShort Top QQQ

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.