ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 1-Year High – Here’s What Happened

ProShares Ultra QQQ (NYSEARCA:QLD) shares hit a new 52-week high on Wednesday . The company traded as high as $84.69 and last traded at $84.39, with a volume of 3773510 shares changing hands. The stock had previously closed at $82.28.

ProShares Ultra QQQ Price Performance

The stock has a market capitalization of $12.99 billion, a PE ratio of 31.03 and a beta of 2.43. The business’s fifty day moving average price is $69.63 and its two-hundred day moving average price is $70.47.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the business. Howard Capital Management Inc. lifted its position in ProShares Ultra QQQ by 95.4% during the fourth quarter. Howard Capital Management Inc. now owns 12,277,706 shares of the company’s stock valued at $864,473,000 after purchasing an additional 5,993,035 shares during the period. Global View Capital Management LLC lifted its position in ProShares Ultra QQQ by 116.2% during the fourth quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock valued at $126,916,000 after purchasing an additional 968,727 shares during the period. Main Street Group LTD lifted its position in ProShares Ultra QQQ by 89.9% during the fourth quarter. Main Street Group LTD now owns 1,039,176 shares of the company’s stock valued at $73,168,000 after purchasing an additional 491,865 shares during the period. Clearstead Trust LLC lifted its position in ProShares Ultra QQQ by 0.3% during the first quarter. Clearstead Trust LLC now owns 733,841 shares of the company’s stock valued at $44,764,000 after purchasing an additional 2,302 shares during the period. Finally, Focus Financial Network Inc. lifted its position in ProShares Ultra QQQ by 100.1% during the fourth quarter. Focus Financial Network Inc. now owns 599,334 shares of the company’s stock valued at $42,199,000 after purchasing an additional 299,761 shares during the period.

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.