ProShares Ultra QQQ (NYSEARCA:QLD – Get Free Report) was the target of a large decrease in short interest in August. As of August 31st, there was short interest totaling 1,097,811 shares, a decrease of 55.8% from the August 15th total of 2,482,329 shares. Based on an average daily volume of 3,319,080 shares, the short-interest ratio is presently 0.3 days. Approximately 0.7% of the company’s stock are short sold.
Institutional Trading of ProShares Ultra QQQ
A number of institutional investors and hedge funds have recently modified their holdings of the business. Integrated Wealth Concepts LLC bought a new stake in ProShares Ultra QQQ during the first quarter worth $557,000. Schnieders Capital Management LLC. bought a new position in ProShares Ultra QQQ in the 2nd quarter valued at $271,000. JPMorgan Chase & Co. grew its stake in ProShares Ultra QQQ by 41,735.7% in the 2nd quarter. JPMorgan Chase & Co. now owns 11,714 shares of the company’s stock valued at $1,379,000 after purchasing an additional 11,686 shares during the period. Ieq Capital LLC increased its position in shares of ProShares Ultra QQQ by 24.3% during the 2nd quarter. Ieq Capital LLC now owns 19,338 shares of the company’s stock valued at $2,276,000 after purchasing an additional 3,776 shares during the last quarter. Finally, Quantinno Capital Management LP purchased a new stake in shares of ProShares Ultra QQQ during the 2nd quarter valued at $263,000.
ProShares Ultra QQQ Stock Performance
NYSEARCA:QLD traded down $0.87 on Monday, hitting $88.68. The stock had a trading volume of 2,704,687 shares, compared to its average volume of 4,995,885. ProShares Ultra QQQ has a 1 year low of $56.60 and a 1 year high of $101.19. The firm’s fifty day simple moving average is $89.18 and its two-hundred day simple moving average is $83.47. The stock has a market cap of $13.52 billion, a P/E ratio of 31.03 and a beta of 2.46.
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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