Traders Purchase Large Volume of ProShares Ultra QQQ Put Options (NYSEARCA:QLD)

ProShares Ultra QQQ (NYSEARCA:QLD) saw some unusual options trading activity on Tuesday. Stock investors bought 3,889 put options on the stock. This is an increase of approximately 161% compared to the typical volume of 1,492 put options.

ProShares Ultra QQQ Price Performance

NYSEARCA:QLD opened at $86.96 on Thursday. ProShares Ultra QQQ has a 52 week low of $56.60 and a 52 week high of $101.19. The company has a fifty day simple moving average of $88.97 and a two-hundred day simple moving average of $83.86. The company has a market cap of $13.05 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently bought and sold shares of the stock. Bullseye Investment Management LLC purchased a new stake in ProShares Ultra QQQ during the 2nd quarter worth about $33,000. Integrated Wealth Concepts LLC purchased a new position in shares of ProShares Ultra QQQ in the 2nd quarter valued at about $186,000. Tucker Asset Management LLC acquired a new position in shares of ProShares Ultra QQQ during the second quarter worth about $268,000. Old Mission Investment Co LLC acquired a new position in shares of ProShares Ultra QQQ during the second quarter worth about $316,000. Finally, Sound Financial Strategies Group LLC acquired a new position in shares of ProShares Ultra QQQ during the second quarter worth about $1,294,000.

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.