ProShares Ultra QQQ (NYSEARCA:QLD) Short Interest Down 55.2% in April

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

Institutional Investors Weigh In On ProShares Ultra QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of the business. Financial Engines Advisors L.L.C. increased its holdings in ProShares Ultra QQQ by 0.7% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 16,513 shares of the company’s stock valued at $2,266,000 after purchasing an additional 122 shares in the last quarter. Koshinski Asset Management Inc. increased its holdings in ProShares Ultra QQQ by 1.8% during the 1st quarter. Koshinski Asset Management Inc. now owns 10,431 shares of the company’s stock valued at $636,000 after purchasing an additional 180 shares in the last quarter. Capital Advisory Group Advisory Services LLC increased its holdings in ProShares Ultra QQQ by 2.6% during the 3rd quarter. Capital Advisory Group Advisory Services LLC now owns 7,285 shares of the company’s stock valued at $1,000,000 after purchasing an additional 185 shares in the last quarter. Brookstone Capital Management increased its holdings in ProShares Ultra QQQ by 2.7% during the 1st quarter. Brookstone Capital Management now owns 11,774 shares of the company’s stock valued at $718,000 after purchasing an additional 308 shares in the last quarter. Finally, Creative Planning increased its holdings in ProShares Ultra QQQ by 1.1% during the 3rd quarter. Creative Planning now owns 33,298 shares of the company’s stock valued at $4,568,000 after purchasing an additional 364 shares in the last quarter.

ProShares Ultra QQQ Stock Down 3.1%

QLD stock traded down $2.87 during midday trading on Friday, reaching $91.03. 6,386,053 shares of the company’s stock traded hands, compared to its average volume of 5,492,634. The company has a 50-day simple moving average of $72.48 and a two-hundred day simple moving average of $71.35. ProShares Ultra QQQ has a 1-year low of $49.74 and a 1-year high of $94.48. The company has a market cap of $13.49 billion, a price-to-earnings ratio of 31.03 and a beta of 2.43.

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.