ProShares Ultra QQQ (NYSEARCA:QLD – Get Free Report) was the recipient of a significant increase in short interest in the month of July. As of July 31st, there was short interest totaling 1,754,906 shares, an increase of 90.0% from the July 15th total of 923,499 shares. Currently, 1.2% of the shares of the stock are sold short. Based on an average daily volume of 4,920,926 shares, the days-to-cover ratio is currently 0.4 days.
ProShares Ultra QQQ Stock Down 0.3%
Shares of QLD stock traded down $0.31 on Monday, reaching $93.84. The company’s stock had a trading volume of 2,802,297 shares, compared to its average volume of 5,169,078. The company has a market capitalization of $14.31 billion, a P/E ratio of 31.03 and a beta of 2.46. ProShares Ultra QQQ has a 12-month low of $56.60 and a 12-month high of $101.19. The stock’s 50 day simple moving average is $90.54 and its 200-day simple moving average is $80.58.
Institutional Trading of ProShares Ultra QQQ
Several institutional investors and hedge funds have recently modified their holdings of QLD. IMC Chicago LLC bought a new stake in shares of ProShares Ultra QQQ in the 4th quarter worth approximately $3,015,000. WealthBridge Capital Management LLC grew its holdings in shares of ProShares Ultra QQQ by 90.4% during the 1st quarter. WealthBridge Capital Management LLC now owns 16,841 shares of the company’s stock valued at $1,027,000 after purchasing an additional 7,997 shares during the last quarter. Legacy Wealth Managment LLC ID raised its position in ProShares Ultra QQQ by 61.5% in the 4th quarter. Legacy Wealth Managment LLC ID now owns 17,756 shares of the company’s stock worth $1,250,000 after purchasing an additional 6,760 shares during the period. Rollins Financial Advisors LLC raised its position in ProShares Ultra QQQ by 109.9% in the 4th quarter. Rollins Financial Advisors LLC now owns 29,427 shares of the company’s stock worth $2,072,000 after purchasing an additional 15,405 shares during the period. Finally, Allworth Financial LP lifted its stake in ProShares Ultra QQQ by 100.0% in the fourth quarter. Allworth Financial LP now owns 16,266 shares of the company’s stock worth $1,145,000 after purchasing an additional 8,133 shares during the last quarter.
ProShares Ultra QQQ Company Profile
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.
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