Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Drops By 26.0%

ProShares UltraPro QQQ (NASDAQ:TQQQ) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 22,781,505 shares, a drop of 26.0% from the February 12th total of 30,780,088 shares. Approximately 4.2% of the company’s shares are sold short. Based on an average daily trading volume, of 81,434,514 shares, the days-to-cover ratio is presently 0.3 days. Based on an average daily trading volume, of 81,434,514 shares, the days-to-cover ratio is presently 0.3 days. Approximately 4.2% of the company’s shares are sold short.

ProShares UltraPro QQQ Stock Performance

ProShares UltraPro QQQ stock opened at $45.93 on Friday. The company’s 50 day simple moving average is $51.59 and its 200-day simple moving average is $52.03. ProShares UltraPro QQQ has a 1 year low of $17.50 and a 1 year high of $60.69. The company has a market capitalization of $24.65 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were paid a dividend of $0.0855 per share. This represents a $0.34 dividend on an annualized basis and a yield of 0.7%. This is a positive change from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05. The ex-dividend date was Wednesday, December 24th.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the company. WFA of San Diego LLC purchased a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter valued at $25,000. N.E.W. Advisory Services LLC acquired a new position in ProShares UltraPro QQQ in the 2nd quarter valued at about $30,000. CoreCap Advisors LLC increased its stake in ProShares UltraPro QQQ by 69.8% during the fourth quarter. CoreCap Advisors LLC now owns 584 shares of the exchange traded fund’s stock worth $31,000 after purchasing an additional 240 shares during the period. BOKF NA purchased a new stake in ProShares UltraPro QQQ during the third quarter worth about $31,000. Finally, Rothschild Investment LLC lifted its position in shares of ProShares UltraPro QQQ by 100.0% during the fourth quarter. Rothschild Investment LLC now owns 700 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 350 shares in the last quarter.

ProShares UltraPro QQQ Company Profile

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.