ProShares UltraShort Top QQQ (NASDAQ:QQDN) Sees Significant Decrease in Short Interest

ProShares UltraShort Top QQQ (NASDAQ:QQDN) saw a significant drop in short interest in April. As of April 15th, there was short interest totaling 3,868 shares, a drop of 36.4% from the March 31st total of 6,085 shares. Based on an average daily trading volume, of 2,332 shares, the short-interest ratio is presently 1.7 days. Currently, 7.7% of the company’s stock are short sold.

ProShares UltraShort Top QQQ Price Performance

NASDAQ QQDN traded up $0.08 during trading on Thursday, hitting $23.57. 2,018 shares of the company traded hands, compared to its average volume of 3,500. ProShares UltraShort Top QQQ has a 12 month low of $22.98 and a 12 month high of $41.14. The business has a fifty day simple moving average of $28.81 and a 200 day simple moving average of $27.09.

Hedge Funds Weigh In On ProShares UltraShort Top QQQ

An institutional investor recently bought a new position in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets bought a new stake in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned approximately 90.91% of ProShares UltraShort Top QQQ at the end of the most recent reporting period.

ProShares UltraShort Top QQQ Company Profile

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.