ProShares Ultra QQQ (NYSEARCA:QLD) Shares Up 2.6% – Should You Buy?

ProShares Ultra QQQ (NYSEARCA:QLD)’s stock price shot up 2.6% during mid-day trading on Wednesday . The company traded as high as $71.52 and last traded at $70.54. 9,043,850 shares were traded during mid-day trading, an increase of 72% from the average session volume of 5,262,619 shares. The stock had previously closed at $68.73.

ProShares Ultra QQQ Stock Performance

The company’s fifty day simple moving average is $70.93 and its two-hundred day simple moving average is $67.57. The company has a market capitalization of $10.70 billion, a price-to-earnings ratio of 31.03 and a beta of 2.31.

Institutional Trading of ProShares Ultra QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of the company. Capital Investment Advisory Services LLC increased its stake in ProShares Ultra QQQ by 102.3% during the fourth quarter. Capital Investment Advisory Services LLC now owns 8,195 shares of the company’s stock valued at $577,000 after purchasing an additional 4,145 shares during the last quarter. Capital Advisory Group Advisory Services LLC grew its position in shares of ProShares Ultra QQQ by 100.0% during the 4th quarter. Capital Advisory Group Advisory Services LLC now owns 14,570 shares of the company’s stock valued at $1,026,000 after buying an additional 7,285 shares during the last quarter. WealthBridge Capital Management LLC grew its position in shares of ProShares Ultra QQQ by 100.0% during the 4th quarter. WealthBridge Capital Management LLC now owns 8,844 shares of the company’s stock valued at $623,000 after buying an additional 4,422 shares during the last quarter. Sowell Financial Services LLC raised its stake in ProShares Ultra QQQ by 96.4% during the fourth quarter. Sowell Financial Services LLC now owns 46,863 shares of the company’s stock worth $3,300,000 after acquiring an additional 23,002 shares during the period. Finally, Ethos Financial Group LLC lifted its holdings in ProShares Ultra QQQ by 100.0% in the fourth quarter. Ethos Financial Group LLC now owns 5,488 shares of the company’s stock worth $386,000 after acquiring an additional 2,744 shares during the last quarter.

About ProShares Ultra QQQ

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.