ProShares Ultra QQQ (NYSEARCA:QLD) Sees Strong Trading Volume – Still a Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) shares saw unusually-strong trading volume on Wednesday . Approximately 9,689,681 shares were traded during mid-day trading, an increase of 126% from the previous session’s volume of 4,284,017 shares.The stock last traded at $116.60 and had previously closed at $113.40.

ProShares Ultra QQQ Stock Up 2.6 %

The stock has a market cap of $7.96 billion, a price-to-earnings ratio of 25.00 and a beta of 2.55. The business’s 50 day simple moving average is $110.70 and its 200 day simple moving average is $102.42.

Institutional Trading of ProShares Ultra QQQ

Large investors have recently added to or reduced their stakes in the company. Oliver Lagore Vanvalin Investment Group lifted its stake in shares of ProShares Ultra QQQ by 36.5% during the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,144 shares of the company’s stock worth $114,000 after buying an additional 306 shares during the last quarter. Tradition Wealth Management LLC acquired a new stake in shares of ProShares Ultra QQQ during the 3rd quarter worth about $207,000. Empirical Financial Services LLC d.b.a. Empirical Wealth Management acquired a new stake in shares of ProShares Ultra QQQ during the 4th quarter worth about $214,000. Commonwealth Equity Services LLC acquired a new stake in ProShares Ultra QQQ in the 2nd quarter worth about $217,000. Finally, Anchor Investment Management LLC raised its stake in ProShares Ultra QQQ by 131.2% in the 2nd quarter. Anchor Investment Management LLC now owns 2,312 shares of the company’s stock worth $231,000 after purchasing an additional 1,312 shares in the last quarter.

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.