ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 52-Week High – Time to Buy?

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) reached a new 52-week high during trading on Thursday . The company traded as high as $110.18 and last traded at $109.88, with a volume of 1307559 shares changing hands. The stock had previously closed at $107.08.

ProShares Ultra QQQ Stock Up 3.1 %

The company has a market capitalization of $7.55 billion, a PE ratio of 25.00 and a beta of 2.55. The business’s 50 day simple moving average is $98.56 and its 200 day simple moving average is $95.25.

Hedge Funds Weigh In On ProShares Ultra QQQ

A number of hedge funds have recently added to or reduced their stakes in QLD. Headlands Technologies LLC bought a new stake in shares of ProShares Ultra QQQ in the first quarter valued at approximately $65,000. Oliver Lagore Vanvalin Investment Group lifted its position in ProShares Ultra QQQ by 36.5% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,144 shares of the company’s stock worth $114,000 after purchasing an additional 306 shares during the period. WealthShield Partners LLC bought a new position in ProShares Ultra QQQ in the second quarter worth $152,000. CWM LLC bought a new position in ProShares Ultra QQQ in the second quarter worth $163,000. Finally, Commonwealth Equity Services LLC bought a new position in ProShares Ultra QQQ in the second quarter worth $217,000.

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.