ProShares Ultra QQQ (NYSEARCA:QLD) Trading Down 0.6% – Should You Sell?

ProShares Ultra QQQ (NYSEARCA:QLD) were down 0.6% on Wednesday . The company traded as low as $89.41 and last traded at $89.98. 2,608,810 shares were traded during trading, a decline of 48% from the average daily volume of 5,011,646 shares. The stock had previously closed at $90.53.

ProShares Ultra QQQ Price Performance

The company has a market cap of $13.66 billion, a PE ratio of 31.03 and a beta of 2.46. The business has a fifty day simple moving average of $89.21 and a two-hundred day simple moving average of $83.31.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several hedge funds have recently made changes to their positions in QLD. Integrated Wealth Concepts LLC purchased a new position in shares of ProShares Ultra QQQ during the 2nd quarter valued at about $186,000. Tucker Asset Management LLC purchased a new stake in shares of ProShares Ultra QQQ in the second quarter worth about $268,000. Old Mission Investment Co LLC purchased a new stake in shares of ProShares Ultra QQQ in the second quarter worth about $316,000. Sound Financial Strategies Group LLC acquired a new stake in ProShares Ultra QQQ during the second quarter worth about $1,294,000. Finally, Client First Investment Management LLC acquired a new stake in ProShares Ultra QQQ during the second quarter worth about $2,300,000.

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.