ProShares UltraShort QQQ (NYSEARCA:QID – Get Free Report) was the recipient of a significant decline in short interest during the month of September. As of September 30th, there was short interest totaling 2,079,532 shares, a decline of 43.3% from the September 15th total of 3,669,383 shares. Approximately 13.2% of the shares of the stock are sold short. Based on an average trading volume of 38,195,838 shares, the days-to-cover ratio is currently 0.1 days.
Institutional Inflows and Outflows
A number of institutional investors have recently bought and sold shares of the business. Genesis Financial Group LLC purchased a new stake in shares of ProShares UltraShort QQQ in the first quarter valued at approximately $5,067,000. Rothschild Capital Partners LLC acquired a new stake in shares of ProShares UltraShort QQQ in the second quarter valued at approximately $4,201,000. IMC Chicago LLC acquired a new stake in shares of ProShares UltraShort QQQ in the first quarter valued at approximately $2,300,000. Hamilton Wealth LLC purchased a new position in ProShares UltraShort QQQ during the fourth quarter worth approximately $1,103,000. Finally, Headlands Technologies LLC lifted its position in ProShares UltraShort QQQ by 169.7% during the second quarter. Headlands Technologies LLC now owns 70,440 shares of the exchange traded fund’s stock worth $954,000 after buying an additional 44,326 shares in the last quarter.
ProShares UltraShort QQQ Stock Up 5.1%
NYSEARCA QID traded up $0.69 during trading hours on Friday, hitting $14.33. 40,453,806 shares of the company’s stock traded hands, compared to its average volume of 25,543,533. ProShares UltraShort QQQ has a 52-week low of $12.41 and a 52-week high of $24.52. The firm’s 50-day moving average is $13.80 and its 200-day moving average is $15.15.
About ProShares UltraShort QQQ
ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.
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