ProShares Ultra QQQ (NYSEARCA:QLD) Sees Large Growth in Short Interest

ProShares Ultra QQQ (NYSEARCA:QLD) was the target of a large growth in short interest in July. As of July 31st, there was short interest totaling 1,754,906 shares, a growth of 90.0% from the July 15th total of 923,499 shares. Based on an average daily volume of 4,920,926 shares, the short-interest ratio is presently 0.4 days. Approximately 1.2% of the company’s stock are short sold.

ProShares Ultra QQQ Trading Down 0.3%

Shares of ProShares Ultra QQQ stock opened at $93.84 on Tuesday. The firm has a market capitalization of $14.31 billion, a P/E ratio of 31.03 and a beta of 2.46. The business’s fifty day simple moving average is $90.57 and its 200 day simple moving average is $80.72. ProShares Ultra QQQ has a 12 month low of $56.60 and a 12 month high of $101.19.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Portus Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra QQQ during the 1st quarter worth approximately $26,000. Qube Research & Technologies Ltd bought a new position in ProShares Ultra QQQ during the third quarter valued at $71,000. Farmers & Merchants Investments Inc. increased its position in ProShares Ultra QQQ by 100.0% in the fourth quarter. Farmers & Merchants Investments Inc. now owns 800 shares of the company’s stock worth $56,000 after buying an additional 400 shares during the last quarter. Monetary Solutions Ltd bought a new stake in shares of ProShares Ultra QQQ in the fourth quarter valued at $59,000. Finally, Parallel Advisors LLC raised its stake in shares of ProShares Ultra QQQ by 100.2% in the fourth quarter. Parallel Advisors LLC now owns 923 shares of the company’s stock valued at $65,000 after buying an additional 462 shares during the period.

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.