ProShares UltraPro QQQ (NASDAQ:TQQQ) Sees Significant Decrease in Short Interest

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the recipient of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 12,880,352 shares, a drop of 43.4% from the December 15th total of 22,743,629 shares. Approximately 2.3% of the company’s shares are sold short. Based on an average trading volume of 66,467,946 shares, the short-interest ratio is currently 0.2 days. Based on an average trading volume of 66,467,946 shares, the short-interest ratio is currently 0.2 days. Approximately 2.3% of the company’s shares are sold short.

ProShares UltraPro QQQ Stock Down 3.2%

Shares of ProShares UltraPro QQQ stock opened at $53.83 on Thursday. The stock has a market cap of $29.73 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. ProShares UltraPro QQQ has a twelve month low of $17.50 and a twelve month high of $60.69. The company’s fifty day moving average is $53.62 and its 200 day moving average is $49.93.

ProShares UltraPro QQQ Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were given a $0.0855 dividend. This is a boost from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, December 24th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Cassaday & Co Wealth Management LLC raised its stake in ProShares UltraPro QQQ by 33.7% during the 2nd quarter. Cassaday & Co Wealth Management LLC now owns 45,931 shares of the exchange traded fund’s stock worth $3,812,000 after buying an additional 11,582 shares during the period. Howard Capital Management Inc. increased its holdings in shares of ProShares UltraPro QQQ by 1,071.0% during the second quarter. Howard Capital Management Inc. now owns 4,855,196 shares of the exchange traded fund’s stock valued at $404,067,000 after acquiring an additional 4,440,578 shares in the last quarter. Clarity Wealth Advisors LLC increased its holdings in shares of ProShares UltraPro QQQ by 35.8% during the second quarter. Clarity Wealth Advisors LLC now owns 18,220 shares of the exchange traded fund’s stock valued at $1,512,000 after acquiring an additional 4,800 shares in the last quarter. Janney Montgomery Scott LLC acquired a new position in shares of ProShares UltraPro QQQ during the second quarter worth approximately $208,000. Finally, Long Run Wealth Advisors LLC bought a new position in shares of ProShares UltraPro QQQ in the 2nd quarter worth $530,000.

About ProShares UltraPro QQQ

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.