ProShares UltraPro QQQ (NASDAQ:TQQQ) Sees Large Increase in Short Interest

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 30,780,088 shares, a growth of 38.4% from the January 29th total of 22,245,068 shares. Based on an average daily volume of 110,268,754 shares, the days-to-cover ratio is currently 0.3 days. Approximately 5.7% of the shares of the stock are sold short. Approximately 5.7% of the shares of the stock are sold short. Based on an average daily volume of 110,268,754 shares, the days-to-cover ratio is currently 0.3 days.

Institutional Trading of ProShares UltraPro QQQ

Several institutional investors and hedge funds have recently added to or reduced their stakes in the business. WFA of San Diego LLC bought a new position in ProShares UltraPro QQQ in the 2nd quarter worth approximately $25,000. BOKF NA bought a new position in shares of ProShares UltraPro QQQ during the third quarter worth $31,000. N.E.W. Advisory Services LLC purchased a new position in ProShares UltraPro QQQ during the second quarter valued at $30,000. Halbert Hargrove Global Advisors LLC bought a new stake in ProShares UltraPro QQQ in the 3rd quarter valued at $44,000. Finally, Edmond DE Rothschild Holding S.A. purchased a new stake in ProShares UltraPro QQQ in the 2nd quarter worth $42,000.

ProShares UltraPro QQQ Stock Performance

Shares of NASDAQ TQQQ traded down $0.49 during midday trading on Monday, reaching $49.03. The stock had a trading volume of 31,246,219 shares, compared to its average volume of 93,442,828. The company has a market capitalization of $26.32 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. ProShares UltraPro QQQ has a 12-month low of $17.50 and a 12-month high of $60.69. The stock has a 50-day moving average of $52.69 and a 200-day moving average of $51.84.

ProShares UltraPro QQQ Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were given a $0.0855 dividend. The ex-dividend date was Wednesday, December 24th. This is a positive change from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05. This represents a $0.34 annualized dividend and a dividend yield of 0.7%.

About ProShares UltraPro QQQ

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.