ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Update

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a large decrease in short interest in the month of June. As of June 15th, there was short interest totaling 1,362,752 shares, a decrease of 51.1% from the May 31st total of 2,786,922 shares. Approximately 8.3% of the shares of the company are short sold. Based on an average daily trading volume, of 28,326,408 shares, the short-interest ratio is presently 0.0 days.

Institutional Investors Weigh In On ProShares UltraShort QQQ

Hedge funds have recently made changes to their positions in the stock. Farther Finance Advisors LLC acquired a new stake in shares of ProShares UltraShort QQQ during the 4th quarter worth approximately $48,000. MWA Asset Management acquired a new stake in ProShares UltraShort QQQ during the 1st quarter valued at $204,000. Waverly Advisors LLC bought a new stake in shares of ProShares UltraShort QQQ during the first quarter valued at approximately $205,000. Captrust Financial Advisors raised its position in shares of ProShares UltraShort QQQ by 15.5% during the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock worth $232,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new position in ProShares UltraShort QQQ during the 4th quarter valued at about $283,000.

ProShares UltraShort QQQ Trading Up 3.3%

Shares of NYSEARCA:QID traded up $0.46 during midday trading on Thursday, hitting $14.40. The company’s stock had a trading volume of 7,293,040 shares, compared to its average volume of 24,910,879. The stock’s 50 day simple moving average is $14.96 and its 200 day simple moving average is $18.60. ProShares UltraShort QQQ has a fifty-two week low of $13.39 and a fifty-two week high of $25.54.

ProShares UltraShort QQQ Company Profile

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.