ProShares Ultra QQQ (NYSEARCA:QLD) Sees Large Drop in Short Interest

ProShares Ultra QQQ (NYSEARCA:QLD) was the target of a large decrease in short interest in April. As of April 30th, there was short interest totaling 1,062,795 shares, a decrease of 55.2% from the April 15th total of 2,372,789 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average trading volume of 4,805,271 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Howard Capital Management Inc. boosted its position in shares of ProShares Ultra QQQ by 95.4% during the 4th quarter. Howard Capital Management Inc. now owns 12,277,706 shares of the company’s stock worth $864,473,000 after acquiring an additional 5,993,035 shares in the last quarter. Global View Capital Management LLC boosted its position in shares of ProShares Ultra QQQ by 116.2% in the 4th quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock valued at $126,916,000 after purchasing an additional 968,727 shares during the period. Main Street Group LTD boosted its position in shares of ProShares Ultra QQQ by 89.9% in the 4th quarter. Main Street Group LTD now owns 1,039,176 shares of the company’s stock valued at $73,168,000 after purchasing an additional 491,865 shares during the period. Clearstead Trust LLC boosted its position in shares of ProShares Ultra QQQ by 0.3% in the 1st quarter. Clearstead Trust LLC now owns 733,841 shares of the company’s stock valued at $44,764,000 after purchasing an additional 2,302 shares during the period. Finally, Focus Financial Network Inc. boosted its position in shares of ProShares Ultra QQQ by 100.1% in the 4th quarter. Focus Financial Network Inc. now owns 599,334 shares of the company’s stock valued at $42,199,000 after purchasing an additional 299,761 shares during the period.

ProShares Ultra QQQ Stock Performance

Shares of NYSEARCA:QLD traded down $2.87 on Friday, hitting $91.03. 6,386,053 shares of the company’s stock were exchanged, compared to its average volume of 5,492,634. The firm’s 50-day moving average is $72.48 and its 200 day moving average is $71.35. The company has a market capitalization of $13.49 billion, a PE ratio of 31.03 and a beta of 2.43. ProShares Ultra QQQ has a 1-year low of $49.74 and a 1-year high of $94.48.

About ProShares Ultra QQQ

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements. The Index is calculated under a modified capitalization-weighted methodology.