ProShares Ultra QQQ (NYSEARCA:QLD – Get Free Report) was the recipient of some unusual options trading activity on Monday. Investors purchased 3,293 call options on the company. This is an increase of 118% compared to the average volume of 1,513 call options.
Hedge Funds Weigh In On ProShares Ultra QQQ
Several hedge funds have recently added to or reduced their stakes in QLD. Koshinski Asset Management Inc. increased its stake in ProShares Ultra QQQ by 1.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 10,431 shares of the company’s stock worth $636,000 after purchasing an additional 180 shares in the last quarter. Brookstone Capital Management increased its position in shares of ProShares Ultra QQQ by 2.7% during the first quarter. Brookstone Capital Management now owns 11,774 shares of the company’s stock worth $718,000 after acquiring an additional 308 shares in the last quarter. Bullseye Investment Management LLC acquired a new stake in shares of ProShares Ultra QQQ during the second quarter worth $33,000. Portus Wealth Advisors LLC bought a new stake in ProShares Ultra QQQ in the 1st quarter valued at $26,000. Finally, IFP Advisors Inc lifted its position in ProShares Ultra QQQ by 300.8% in the 4th quarter. IFP Advisors Inc now owns 998 shares of the company’s stock valued at $70,000 after acquiring an additional 749 shares in the last quarter.
ProShares Ultra QQQ Price Performance
Shares of QLD stock traded up $3.74 during trading hours on Monday, reaching $94.74. The company had a trading volume of 1,487,084 shares, compared to its average volume of 4,942,318. The company has a 50 day moving average of $88.85 and a 200 day moving average of $84.18. The firm has a market cap of $14.45 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46. ProShares Ultra QQQ has a 1-year low of $56.60 and a 1-year high of $101.19.
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.
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