ProShares UltraShort QQQ (NYSEARCA:QID) Sees Large Decline in Short Interest

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a significant decline in short interest in April. As of April 30th, there was short interest totaling 1,335,295 shares, a decline of 55.2% from the April 15th total of 2,983,000 shares. Based on an average trading volume of 27,569,115 shares, the days-to-cover ratio is presently 0.0 days. Currently, 8.1% of the company’s stock are sold short.

ProShares UltraShort QQQ Trading Up 3.1%

Shares of NYSEARCA:QID traded up $0.45 during trading on Friday, hitting $15.01. The company’s stock had a trading volume of 30,619,103 shares, compared to its average volume of 25,706,639. ProShares UltraShort QQQ has a fifty-two week low of $14.46 and a fifty-two week high of $30.33. The stock’s 50-day moving average price is $19.49 and its two-hundred day moving average price is $20.01.

Institutional Trading of ProShares UltraShort QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in ProShares UltraShort QQQ in the fourth quarter valued at about $48,000. MWA Asset Management bought a new stake in ProShares UltraShort QQQ in the first quarter valued at about $204,000. Waverly Advisors LLC bought a new stake in ProShares UltraShort QQQ in the first quarter valued at about $205,000. Captrust Financial Advisors increased its holdings in ProShares UltraShort QQQ by 15.5% in the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after buying an additional 1,228 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management bought a new stake in ProShares UltraShort QQQ in the fourth quarter valued at about $283,000.

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.