ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Down 51.1% in June

ProShares UltraShort QQQ (NYSEARCA:QID) saw a large drop in short interest in June. As of June 15th, there was short interest totaling 1,362,752 shares, a drop of 51.1% from the May 31st total of 2,786,922 shares. Based on an average trading volume of 28,326,408 shares, the days-to-cover ratio is currently 0.0 days. Approximately 8.3% of the shares of the stock are short sold.

ProShares UltraShort QQQ Stock Performance

Shares of QID stock traded up $0.39 during mid-day trading on Wednesday, reaching $13.94. 8,134,919 shares of the stock traded hands, compared to its average volume of 25,055,736. The stock’s fifty day simple moving average is $15.04 and its two-hundred day simple moving average is $18.64. ProShares UltraShort QQQ has a 1-year low of $13.39 and a 1-year high of $25.85.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the stock. Blueprint Financial Advisors LLC acquired a new stake in shares of ProShares UltraShort QQQ in the third quarter valued at about $745,000. Blueprint Investment Partners LLC acquired a new stake in ProShares UltraShort QQQ during the 3rd quarter valued at approximately $745,000. Hamilton Wealth LLC acquired a new stake in ProShares UltraShort QQQ during the 4th quarter valued at approximately $1,103,000. Axxcess Wealth Management LLC raised its holdings in ProShares UltraShort QQQ by 22.0% during the 4th quarter. Axxcess Wealth Management LLC now owns 65,068 shares of the exchange traded fund’s stock worth $1,314,000 after purchasing an additional 11,721 shares during the last quarter. Finally, Farther Finance Advisors LLC bought a new position in ProShares UltraShort QQQ during the 4th quarter worth approximately $48,000.

About ProShares UltraShort QQQ

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.