ProShares Ultra QQQ (NYSEARCA:QLD) Sees Significant Decrease in Short Interest

ProShares Ultra QQQ (NYSEARCA:QLD) saw a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 1,142,127 shares, a decrease of 41.9% from the June 15th total of 1,965,191 shares. Based on an average trading volume of 4,402,051 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.8% of the company’s shares are short sold.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Portus Wealth Advisors LLC acquired a new position in ProShares Ultra QQQ during the 1st quarter worth approximately $26,000. Farmers & Merchants Investments Inc. lifted its position in shares of ProShares Ultra QQQ by 100.0% during the fourth quarter. Farmers & Merchants Investments Inc. now owns 800 shares of the company’s stock worth $56,000 after purchasing an additional 400 shares in the last quarter. Monetary Solutions Ltd acquired a new position in shares of ProShares Ultra QQQ during the fourth quarter worth $59,000. Parallel Advisors LLC boosted its stake in shares of ProShares Ultra QQQ by 100.2% in the fourth quarter. Parallel Advisors LLC now owns 923 shares of the company’s stock valued at $65,000 after purchasing an additional 462 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of ProShares Ultra QQQ in the first quarter valued at $66,000.

ProShares Ultra QQQ Price Performance

QLD stock traded down $2.66 on Friday, hitting $85.91. 5,315,602 shares of the company were exchanged, compared to its average volume of 5,286,521. The stock has a market capitalization of $12.97 billion, a price-to-earnings ratio of 31.03 and a beta of 2.45. The business’s fifty day moving average is $93.32 and its two-hundred day moving average is $78.21. ProShares Ultra QQQ has a twelve month low of $56.60 and a twelve month high of $101.19.

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.