ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Up 48.6% in March

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 820,271 shares, an increase of 48.6% from the February 26th total of 552,001 shares. Based on an average daily trading volume, of 23,460,157 shares, the days-to-cover ratio is presently 0.0 days. Currently, 6.8% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC acquired a new stake in ProShares UltraShort QQQ in the 4th quarter valued at $48,000. Bogart Wealth LLC acquired a new position in shares of ProShares UltraShort QQQ during the 3rd quarter worth about $73,000. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of ProShares UltraShort QQQ in the 2nd quarter valued at about $190,000. Captrust Financial Advisors increased its position in shares of ProShares UltraShort QQQ by 15.5% in the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new stake in shares of ProShares UltraShort QQQ in the fourth quarter valued at about $283,000.

ProShares UltraShort QQQ Trading Up 3.9%

NYSEARCA:QID traded up $0.90 during trading hours on Friday, reaching $23.92. 12,348,620 shares of the stock were exchanged, compared to its average volume of 27,202,063. ProShares UltraShort QQQ has a twelve month low of $18.87 and a twelve month high of $50.45. The firm has a 50 day moving average of $20.84 and a 200 day moving average of $20.75.

ProShares UltraShort QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a $0.1471 dividend. This represents a $0.59 dividend on an annualized basis and a dividend yield of 2.5%. The ex-dividend date of this dividend is Wednesday, March 25th.

ProShares UltraShort QQQ Company Profile

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.