ProShares UltraPro QQQ (NASDAQ:TQQQ) Sees Large Increase in Short Interest

ProShares UltraPro QQQ (NASDAQ:TQQQ) saw a significant increase in short interest in the month of February. As of February 13th, there was short interest totaling 30,780,088 shares, an increase of 38.4% from the January 29th total of 22,245,068 shares. Based on an average trading volume of 110,268,754 shares, the days-to-cover ratio is currently 0.3 days. Currently, 5.7% of the shares of the company are short sold. Currently, 5.7% of the shares of the company are short sold. Based on an average trading volume of 110,268,754 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the business. Cassaday & Co Wealth Management LLC grew its holdings in ProShares UltraPro QQQ by 33.7% during the second quarter. Cassaday & Co Wealth Management LLC now owns 45,931 shares of the exchange traded fund’s stock valued at $3,812,000 after purchasing an additional 11,582 shares during the period. Clarity Wealth Advisors LLC raised its stake in shares of ProShares UltraPro QQQ by 35.8% in the second quarter. Clarity Wealth Advisors LLC now owns 18,220 shares of the exchange traded fund’s stock worth $1,512,000 after buying an additional 4,800 shares during the period. Long Run Wealth Advisors LLC purchased a new position in shares of ProShares UltraPro QQQ during the 2nd quarter valued at about $530,000. Prospera Financial Services Inc bought a new position in shares of ProShares UltraPro QQQ during the 2nd quarter valued at approximately $904,000. Finally, Verus Capital Partners LLC bought a new position in shares of ProShares UltraPro QQQ during the 2nd quarter valued at approximately $278,000.

ProShares UltraPro QQQ Stock Down 1.0%

Shares of ProShares UltraPro QQQ stock traded down $0.49 during trading hours on Monday, reaching $49.03. 31,246,219 shares of the stock traded hands, compared to its average volume of 93,442,828. The company has a 50 day moving average price of $52.69 and a 200 day moving average price of $51.84. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. ProShares UltraPro QQQ has a one year low of $17.50 and a one year high of $60.69.

ProShares UltraPro QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Investors of record on Wednesday, December 24th were given a dividend of $0.0855 per share. This represents a $0.34 annualized dividend and a yield of 0.7%. This is a positive change from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, December 24th.

ProShares UltraPro QQQ Company Profile

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.