ProShares UltraShort QQQ (NYSEARCA:QID – Get Free Report) saw a significant drop in short interest in April. As of April 30th, there was short interest totaling 1,335,295 shares, a drop of 55.2% from the April 15th total of 2,983,000 shares. Currently, 8.1% of the company’s stock are short sold. Based on an average trading volume of 27,569,115 shares, the short-interest ratio is presently 0.0 days.
ProShares UltraShort QQQ Price Performance
QID traded up $0.45 during trading on Friday, hitting $15.01. The stock had a trading volume of 30,619,103 shares, compared to its average volume of 25,706,639. ProShares UltraShort QQQ has a twelve month low of $14.46 and a twelve month high of $30.33. The stock has a 50 day simple moving average of $19.49 and a two-hundred day simple moving average of $20.01.
Institutional Investors Weigh In On ProShares UltraShort QQQ
Several institutional investors have recently bought and sold shares of the company. Waverly Advisors LLC acquired a new stake in ProShares UltraShort QQQ in the first quarter valued at approximately $205,000. MWA Asset Management acquired a new stake in ProShares UltraShort QQQ in the first quarter valued at approximately $204,000. Group One Trading LLC lifted its stake in shares of ProShares UltraShort QQQ by 47.3% during the first quarter. Group One Trading LLC now owns 28,491 shares of the exchange traded fund’s stock worth $646,000 after buying an additional 9,143 shares during the period. IMC Chicago LLC acquired a new stake in shares of ProShares UltraShort QQQ during the first quarter worth $2,300,000. Finally, Hillsdale Investment Management Inc. lifted its stake in shares of ProShares UltraShort QQQ by 3.5% during the first quarter. Hillsdale Investment Management Inc. now owns 35,290 shares of the exchange traded fund’s stock worth $800,000 after buying an additional 1,190 shares during the period.
ProShares UltraShort QQQ Company Profile
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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