ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Up 147.3% in August

ProShares UltraShort QQQ (NYSEARCA:QID) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 3,678,251 shares, a growth of 147.3% from the August 15th total of 1,487,245 shares. Based on an average trading volume of 29,798,475 shares, the days-to-cover ratio is currently 0.1 days. Approximately 20.7% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares UltraShort QQQ

Several hedge funds and other institutional investors have recently added to or reduced their stakes in QID. Hillsdale Investment Management Inc. raised its holdings in shares of ProShares UltraShort QQQ by 3.5% during the first quarter. Hillsdale Investment Management Inc. now owns 35,290 shares of the exchange traded fund’s stock valued at $800,000 after buying an additional 1,190 shares during the last quarter. Captrust Financial Advisors lifted its holdings in shares of ProShares UltraShort QQQ by 15.5% in the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after buying an additional 1,228 shares during the period. Tower Research Capital LLC TRC boosted its position in shares of ProShares UltraShort QQQ by 30.2% during the 2nd quarter. Tower Research Capital LLC TRC now owns 20,717 shares of the exchange traded fund’s stock valued at $525,000 after purchasing an additional 4,803 shares in the last quarter. Two Sigma Securities LLC boosted its holdings in ProShares UltraShort QQQ by 87.0% during the second quarter. Two Sigma Securities LLC now owns 17,370 shares of the exchange traded fund’s stock worth $440,000 after buying an additional 8,082 shares in the last quarter. Finally, MWA Asset Management bought a new stake in shares of ProShares UltraShort QQQ during the 1st quarter worth $204,000.

ProShares UltraShort QQQ Trading Down 1.8%

QID stock traded down $0.26 during trading on Friday, hitting $14.33. The stock had a trading volume of 29,991,566 shares, compared to its average volume of 24,096,533. ProShares UltraShort QQQ has a twelve month low of $13.39 and a twelve month high of $24.52. The company’s 50-day moving average price is $14.50 and its two-hundred day moving average price is $16.55.

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.