ProShares Ultra QQQ (NYSEARCA:QLD – Get Free Report) shares passed below its two hundred day moving average during trading on Friday. The stock has a two hundred day moving average of $83.17 and traded as low as $80.82. ProShares Ultra QQQ shares last traded at $82.59, with a volume of 8,076,818 shares.
ProShares Ultra QQQ Trading Down 6.9%
The stock has a market capitalization of $13.38 billion, a P/E ratio of 31.03 and a beta of 2.46. The company’s fifty day simple moving average is $91.91 and its 200 day simple moving average is $83.17.
Hedge Funds Weigh In On ProShares Ultra QQQ
Institutional investors have recently made changes to their positions in the stock. Clearstead Trust LLC increased its position in shares of ProShares Ultra QQQ by 0.3% during the 1st quarter. Clearstead Trust LLC now owns 733,841 shares of the company’s stock valued at $44,764,000 after purchasing an additional 2,302 shares during the last quarter. Turner Capital Investments LLC purchased a new stake in ProShares Ultra QQQ during the 3rd quarter valued at $44,161,000. Dedeker Financial LLC boosted its holdings in shares of ProShares Ultra QQQ by 7.6% during the third quarter. Dedeker Financial LLC now owns 384,371 shares of the company’s stock worth $36,765,000 after purchasing an additional 27,310 shares during the period. Dale Q Rice Investment Management Ltd grew its position in shares of ProShares Ultra QQQ by 0.3% in the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 258,195 shares of the company’s stock worth $24,696,000 after buying an additional 682 shares during the last quarter. Finally, Toth Financial Advisory Corp bought a new stake in ProShares Ultra QQQ in the third quarter valued at $22,280,000.
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.
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