ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Update

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 1,412,371 shares, a growth of 19.4% from the December 31st total of 1,183,283 shares. Currently, 12.9% of the company’s shares are sold short. Based on an average daily trading volume, of 35,639,740 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily trading volume, of 35,639,740 shares, the days-to-cover ratio is currently 0.0 days. Currently, 12.9% of the company’s shares are sold short.

ProShares UltraShort QQQ Price Performance

QID stock traded up $0.86 during trading on Tuesday, reaching $20.36. 20,146,731 shares of the stock traded hands, compared to its average volume of 34,245,895. The business’s 50 day moving average price is $19.98 and its 200-day moving average price is $21.51. ProShares UltraShort QQQ has a 52-week low of $18.87 and a 52-week high of $50.45.

Hedge Funds Weigh In On ProShares UltraShort QQQ

A number of hedge funds have recently made changes to their positions in QID. Pacific Point Advisors LLC purchased a new stake in ProShares UltraShort QQQ during the 3rd quarter worth $2,153,000. Group One Trading LLC lifted its stake in shares of ProShares UltraShort QQQ by 1,051.2% during the second quarter. Group One Trading LLC now owns 55,604 shares of the exchange traded fund’s stock worth $1,408,000 after purchasing an additional 50,774 shares in the last quarter. Squarepoint Ops LLC lifted its stake in shares of ProShares UltraShort QQQ by 137.3% during the second quarter. Squarepoint Ops LLC now owns 61,515 shares of the exchange traded fund’s stock worth $1,558,000 after purchasing an additional 35,595 shares in the last quarter. Blueprint Investment Partners LLC purchased a new stake in shares of ProShares UltraShort QQQ in the third quarter worth about $745,000. Finally, Blueprint Financial Advisors LLC acquired a new stake in shares of ProShares UltraShort QQQ in the third quarter valued at about $745,000.

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.