ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 52-Week High – Still a Buy?

ProShares Ultra QQQ (NYSEARCA:QLD)’s stock price hit a new 52-week high during trading on Tuesday. The stock traded as high as $101.31 and last traded at $101.2320, with a volume of 647480 shares. The stock had previously closed at $99.84.

ProShares Ultra QQQ Stock Down 0.5%

The stock has a market capitalization of $15.80 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46. The business has a 50-day simple moving average of $91.72 and a two-hundred day simple moving average of $86.98.

Institutional Trading of ProShares Ultra QQQ

Several institutional investors have recently modified their holdings of the company. MassMutual Private Wealth & Trust FSB bought a new position in ProShares Ultra QQQ during the third quarter valued at about $248,000. Silverleafe Capital Partners LLC bought a new stake in ProShares Ultra QQQ in the third quarter worth about $398,000. Envestnet Asset Management Inc. acquired a new stake in ProShares Ultra QQQ in the 2nd quarter valued at about $2,987,000. Bullseye Investment Management LLC acquired a new stake in ProShares Ultra QQQ in the 2nd quarter valued at about $33,000. Finally, Integrated Wealth Concepts LLC bought a new position in shares of ProShares Ultra QQQ during the 2nd quarter valued at about $186,000.

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.