ProShares Ultra QQQ (NYSEARCA:QLD) Short Interest Update

ProShares Ultra QQQ (NYSEARCA:QLD) saw a large decline in short interest in August. As of August 31st, there was short interest totaling 1,097,811 shares, a decline of 55.8% from the August 15th total of 2,482,329 shares. Approximately 0.7% of the company’s shares are short sold. Based on an average trading volume of 3,319,080 shares, the days-to-cover ratio is presently 0.3 days.

ProShares Ultra QQQ Trading Down 1.0%

NYSEARCA QLD traded down $0.87 on Monday, hitting $88.68. 2,704,687 shares of the company were exchanged, compared to its average volume of 4,995,885. The company has a market cap of $13.52 billion, a PE ratio of 31.03 and a beta of 2.46. The stock has a fifty day moving average of $89.18 and a 200-day moving average of $83.47. ProShares Ultra QQQ has a 12 month low of $56.60 and a 12 month high of $101.19.

Hedge Funds Weigh In On ProShares Ultra QQQ

Hedge funds have recently added to or reduced their stakes in the stock. Bullseye Investment Management LLC purchased a new stake in ProShares Ultra QQQ in the 2nd quarter valued at $33,000. Integrated Wealth Concepts LLC bought a new stake in shares of ProShares Ultra QQQ in the 2nd quarter worth $186,000. Tucker Asset Management LLC purchased a new stake in shares of ProShares Ultra QQQ in the second quarter valued at about $268,000. Old Mission Investment Co LLC purchased a new stake in shares of ProShares Ultra QQQ in the second quarter valued at about $316,000. Finally, Sound Financial Strategies Group LLC purchased a new stake in shares of ProShares Ultra QQQ in the second quarter valued at about $1,294,000.

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.