ProShares UltraShort QQQ (NYSEARCA:QID)’s share price gapped up before the market opened on Monday . The stock had previously closed at $29.23, but opened at $30.52. ProShares UltraShort QQQ shares last traded at $30.90, with a volume of 3449169 shares traded.
A number of hedge funds have recently added to or reduced their stakes in the business. Deutsche Bank AG bought a new stake in shares of ProShares UltraShort QQQ in the fourth quarter valued at about $2,377,000. Virtu Financial LLC bought a new stake in shares of ProShares UltraShort QQQ in the fourth quarter valued at about $1,274,000. First Bank & Trust bought a new stake in shares of ProShares UltraShort QQQ in the first quarter valued at about $481,000. Two Sigma Securities LLC bought a new stake in shares of ProShares UltraShort QQQ in the fourth quarter valued at about $655,000. Finally, Clean Yield Group boosted its position in shares of ProShares UltraShort QQQ by 530.8% in the first quarter. Clean Yield Group now owns 8,200 shares of the exchange traded fund’s stock valued at $282,000 after acquiring an additional 6,900 shares during the period.
ProShares UltraShort QQQ Company Profile (NYSEARCA:QID)
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.
Further Reading: How a Back-End Load Mutual Fund Works
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