ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 12-Month High – Still a Buy?

ProShares Ultra QQQ (NYSEARCA:QLD)’s share price reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $80.79 and last traded at $79.6740, with a volume of 379365 shares trading hands. The stock had previously closed at $79.64.

ProShares Ultra QQQ Trading Up 0.5%

The firm has a market capitalization of $11.84 billion, a P/E ratio of 31.03 and a beta of 2.37. The stock has a 50 day simple moving average of $68.23 and a 200-day simple moving average of $69.99.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the business. Donaldson Capital Management LLC raised its position in ProShares Ultra QQQ by 100.0% in the fourth quarter. Donaldson Capital Management LLC now owns 28,000 shares of the company’s stock worth $1,971,000 after acquiring an additional 14,000 shares during the period. CPR Investments Inc. increased its stake in shares of ProShares Ultra QQQ by 277.3% in the fourth quarter. CPR Investments Inc. now owns 12,673 shares of the company’s stock worth $926,000 after purchasing an additional 9,314 shares in the last quarter. Main Street Group LTD increased its stake in shares of ProShares Ultra QQQ by 2.3% in the third quarter. Main Street Group LTD now owns 547,311 shares of the company’s stock worth $75,091,000 after purchasing an additional 12,223 shares in the last quarter. Sowell Financial Services LLC increased its stake in shares of ProShares Ultra QQQ by 96.4% in the fourth quarter. Sowell Financial Services LLC now owns 46,863 shares of the company’s stock worth $3,300,000 after purchasing an additional 23,002 shares in the last quarter. Finally, Global View Capital Management LLC increased its stake in shares of ProShares Ultra QQQ by 116.2% in the fourth quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock worth $126,916,000 after purchasing an additional 968,727 shares in the last quarter.

ProShares Ultra QQQ Company Profile

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.