ProShares Ultra QQQ (NYSEARCA:QLD) Shares Down 0.6% – Should You Sell?

ProShares Ultra QQQ (NYSEARCA:QLD) traded down 0.6% on Wednesday . The company traded as low as $89.41 and last traded at $89.98. Approximately 2,608,810 shares traded hands during trading, a decline of 48% from the average daily volume of 5,011,646 shares. The stock had previously closed at $90.53.

ProShares Ultra QQQ Stock Down 0.6%

The company’s fifty day moving average price is $89.26 and its 200-day moving average price is $83.17. The stock has a market capitalization of $13.72 billion, a PE ratio of 31.03 and a beta of 2.46.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in QLD. Allworth Financial LP lifted its position in ProShares Ultra QQQ by 100.0% during the fourth quarter. Allworth Financial LP now owns 16,266 shares of the company’s stock valued at $1,145,000 after purchasing an additional 8,133 shares during the period. WealthBridge Capital Management LLC grew its position in ProShares Ultra QQQ by 90.4% in the 1st quarter. WealthBridge Capital Management LLC now owns 16,841 shares of the company’s stock worth $1,027,000 after purchasing an additional 7,997 shares during the period. Rollins Financial Advisors LLC raised its stake in ProShares Ultra QQQ by 109.9% during the 4th quarter. Rollins Financial Advisors LLC now owns 29,427 shares of the company’s stock valued at $2,072,000 after buying an additional 15,405 shares during the last quarter. Richmond Brothers Inc. raised its stake in ProShares Ultra QQQ by 394.9% during the 4th quarter. Richmond Brothers Inc. now owns 29,152 shares of the company’s stock valued at $2,053,000 after buying an additional 23,261 shares during the last quarter. Finally, Latitude Advisors LLC lifted its holdings in shares of ProShares Ultra QQQ by 50.6% during the 1st quarter. Latitude Advisors LLC now owns 41,336 shares of the company’s stock valued at $2,521,000 after buying an additional 13,897 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.