Short Interest in ProShares Ultra QQQ (NYSEARCA:QLD) Decreases By 55.2%

ProShares Ultra QQQ (NYSEARCA:QLD) was the recipient of a large decrease in short interest in April. As of April 30th, there was short interest totaling 1,062,795 shares, a decrease of 55.2% from the April 15th total of 2,372,789 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 4,805,271 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several hedge funds have recently added to or reduced their stakes in QLD. Integrated Wealth Concepts LLC bought a new position in ProShares Ultra QQQ during the 1st quarter valued at about $557,000. Schnieders Capital Management LLC. bought a new position in ProShares Ultra QQQ during the 2nd quarter valued at about $271,000. JPMorgan Chase & Co. grew its holdings in ProShares Ultra QQQ by 41,735.7% during the 2nd quarter. JPMorgan Chase & Co. now owns 11,714 shares of the company’s stock valued at $1,379,000 after purchasing an additional 11,686 shares during the last quarter. Ieq Capital LLC grew its holdings in ProShares Ultra QQQ by 24.3% during the 2nd quarter. Ieq Capital LLC now owns 19,338 shares of the company’s stock valued at $2,276,000 after purchasing an additional 3,776 shares during the last quarter. Finally, Quantinno Capital Management LP bought a new position in ProShares Ultra QQQ during the 2nd quarter valued at about $263,000.

ProShares Ultra QQQ Price Performance

Shares of NYSEARCA QLD traded down $2.87 during mid-day trading on Friday, hitting $91.03. 6,386,053 shares of the company’s stock traded hands, compared to its average volume of 5,492,634. The company’s 50-day moving average is $72.48 and its two-hundred day moving average is $71.37. The company has a market capitalization of $13.49 billion, a P/E ratio of 31.03 and a beta of 2.43. ProShares Ultra QQQ has a 1 year low of $49.74 and a 1 year high of $94.48.

ProShares Ultra QQQ Company Profile

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.