ProShares UltraShort Top QQQ (NASDAQ:QQDN) Sees Significant Decrease in Short Interest

ProShares UltraShort Top QQQ (NASDAQ:QQDN) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 582 shares, a decrease of 88.2% from the April 30th total of 4,937 shares. Currently, 1.2% of the company’s stock are sold short. Based on an average daily volume of 2,267 shares, the short-interest ratio is currently 0.3 days.

Institutional Investors Weigh In On ProShares UltraShort Top QQQ

An institutional investor recently bought a new position in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets acquired a new stake in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned approximately 90.91% of ProShares UltraShort Top QQQ as of its most recent SEC filing.

ProShares UltraShort Top QQQ Stock Performance

Shares of QQDN traded down $0.10 during midday trading on Friday, hitting $20.10. 256 shares of the company’s stock traded hands, compared to its average volume of 3,188. ProShares UltraShort Top QQQ has a 1 year low of $19.63 and a 1 year high of $41.14. The firm’s fifty day moving average is $25.42 and its 200-day moving average is $26.38.

About ProShares UltraShort Top QQQ

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.