Short Interest in ProShares UltraShort Top QQQ (NASDAQ:QQDN) Expands By 37.7%

ProShares UltraShort Top QQQ (NASDAQ:QQDN) was the target of a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 1,008 shares, a growth of 37.7% from the February 26th total of 732 shares. Approximately 2.0% of the shares of the company are sold short. Based on an average trading volume of 2,976 shares, the days-to-cover ratio is presently 0.3 days.

ProShares UltraShort Top QQQ Stock Performance

Shares of ProShares UltraShort Top QQQ stock traded up $0.55 during trading on Monday, reaching $34.98. The company’s stock had a trading volume of 3,332 shares, compared to its average volume of 3,482. The company has a 50-day moving average price of $29.01 and a two-hundred day moving average price of $27.17. ProShares UltraShort Top QQQ has a fifty-two week low of $23.60 and a fifty-two week high of $41.14.

ProShares UltraShort Top QQQ Cuts Dividend

The firm also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a $0.1593 dividend. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend is Wednesday, March 25th.

Institutional Investors Weigh In On ProShares UltraShort Top QQQ

A hedge fund recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets acquired a new stake in ProShares UltraShort Top QQQ (NASDAQ:QQDN) during the second quarter, according to its most recent filing with the SEC. The firm acquired 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned about 90.91% of ProShares UltraShort Top QQQ at the end of the most recent reporting period.

About ProShares UltraShort Top QQQ

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.