ProShares Ultra QQQ (NYSEARCA:QLD) Trading 0.9% Higher – What’s Next?

ProShares Ultra QQQ (NYSEARCA:QLD)’s stock price rose 0.9% during mid-day trading on Monday . The company traded as high as $72.24 and last traded at $71.67. Approximately 4,285,280 shares changed hands during trading, a decline of 39% from the average daily volume of 7,004,015 shares. The stock had previously closed at $71.05.

ProShares Ultra QQQ Stock Performance

The company has a market cap of $10.73 billion, a P/E ratio of 31.03 and a beta of 2.31. The business has a 50 day moving average price of $71.19 and a two-hundred day moving average price of $65.41.

Institutional Trading of ProShares Ultra QQQ

A number of institutional investors have recently made changes to their positions in the stock. Beacon Capital Management Inc. bought a new position in shares of ProShares Ultra QQQ during the second quarter valued at approximately $27,000. Elevation Point Wealth Partners LLC purchased a new stake in shares of ProShares Ultra QQQ in the second quarter worth $38,000. Qube Research & Technologies Ltd purchased a new stake in shares of ProShares Ultra QQQ in the third quarter worth $71,000. Financial Consulate Inc. bought a new position in shares of ProShares Ultra QQQ during the third quarter valued at $78,000. Finally, MassMutual Private Wealth & Trust FSB raised its position in shares of ProShares Ultra QQQ by 38.1% in the 2nd quarter. MassMutual Private Wealth & Trust FSB now owns 949 shares of the company’s stock worth $112,000 after purchasing an additional 262 shares during 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. The Index is calculated under a modified capitalization-weighted methodology.