ProShares Ultra QQQ (NYSEARCA:QLD) Sees Significant Increase in Short Interest

ProShares Ultra QQQ (NYSEARCA:QLD) saw a significant increase in short interest during the month of October. As of October 15th, there was short interest totaling 1,871,029 shares, an increase of 100.7% from the September 30th total of 932,156 shares. Currently, 1.2% of the company’s shares are sold short. Based on an average daily volume of 3,913,050 shares, the short-interest ratio is presently 0.5 days.

ProShares Ultra QQQ Trading Down 6.9%

NYSEARCA:QLD traded down $6.15 on Friday, reaching $82.59. 8,076,818 shares of the stock traded hands, compared to its average volume of 4,865,388. The firm has a market capitalization of $13.38 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46. The company’s 50 day moving average is $91.91 and its 200-day moving average is $83.17. ProShares Ultra QQQ has a 1-year low of $56.60 and a 1-year high of $101.62.

Institutional Investors Weigh In On ProShares Ultra QQQ

A number of hedge funds have recently added to or reduced their stakes in QLD. Clearstead Trust LLC raised its position in shares of ProShares Ultra QQQ by 0.3% during the first quarter. Clearstead Trust LLC now owns 733,841 shares of the company’s stock worth $44,764,000 after purchasing an additional 2,302 shares during the period. Turner Capital Investments LLC bought a new position in shares of ProShares Ultra QQQ in the 3rd quarter worth $44,161,000. Dedeker Financial LLC lifted its holdings in shares of ProShares Ultra QQQ by 7.6% in the 3rd quarter. Dedeker Financial LLC now owns 384,371 shares of the company’s stock worth $36,765,000 after purchasing an additional 27,310 shares in the last quarter. Dale Q Rice Investment Management Ltd lifted its holdings in shares of ProShares Ultra QQQ by 0.3% in the 3rd quarter. Dale Q Rice Investment Management Ltd now owns 258,195 shares of the company’s stock worth $24,696,000 after purchasing an additional 682 shares in the last quarter. Finally, Toth Financial Advisory Corp acquired a new stake in ProShares Ultra QQQ in the 3rd quarter valued at $22,280,000.

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.