ProShares UltraShort QQQ (NYSEARCA:QID – Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 3,678,251 shares, a growth of 147.3% from the August 15th total of 1,487,245 shares. Currently, 20.7% of the shares of the company are short sold. Based on an average daily trading volume, of 29,798,475 shares, the short-interest ratio is presently 0.1 days.
Institutional Investors Weigh In On ProShares UltraShort QQQ
Hedge funds have recently added to or reduced their stakes in the business. MWA Asset Management bought a new position in shares of ProShares UltraShort QQQ in the first quarter valued at about $204,000. Waverly Advisors LLC acquired a new stake in shares of ProShares UltraShort QQQ during the 1st quarter worth about $205,000. Integrated Advisors Network LLC bought a new stake in shares of ProShares UltraShort QQQ during the 1st quarter worth about $421,000. F&V Capital Management LLC bought a new stake in shares of ProShares UltraShort QQQ during the 2nd quarter worth about $338,000. Finally, Group One Trading LLC boosted its holdings in shares of ProShares UltraShort QQQ by 47.3% during the 1st quarter. Group One Trading LLC now owns 28,491 shares of the exchange traded fund’s stock worth $646,000 after buying an additional 9,143 shares during the period.
ProShares UltraShort QQQ Stock Performance
Shares of QID traded up $0.20 during mid-day trading on Tuesday, reaching $14.76. The company’s stock had a trading volume of 6,923,378 shares, compared to its average volume of 24,072,936. ProShares UltraShort QQQ has a 1-year low of $13.39 and a 1-year high of $24.52. The business has a 50-day simple moving average of $14.51 and a two-hundred day simple moving average of $16.47.
About ProShares UltraShort QQQ
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.
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