Short Interest in ProShares Ultra QQQ (NYSEARCA:QLD) Decreases By 55.2%

ProShares Ultra QQQ (NYSEARCA:QLD) was the target of a large decline in short interest in April. As of April 30th, there was short interest totaling 1,062,795 shares, a decline of 55.2% from the April 15th total of 2,372,789 shares. Approximately 0.7% of the shares of the stock are sold short. Based on an average daily volume of 4,805,271 shares, the days-to-cover ratio is presently 0.2 days.

ProShares Ultra QQQ Stock Down 3.1%

QLD stock traded down $2.87 during mid-day trading on Friday, hitting $91.03. The company had a trading volume of 6,386,053 shares, compared to its average volume of 5,492,634. The company has a market capitalization of $13.49 billion, a price-to-earnings ratio of 31.03 and a beta of 2.43. ProShares Ultra QQQ has a 12-month low of $49.74 and a 12-month high of $94.48. The company has a 50-day moving average price of $72.48 and a 200 day moving average price of $71.37.

Institutional Trading of ProShares Ultra QQQ

Several hedge funds have recently bought and sold shares of the stock. Portus Wealth Advisors LLC purchased a new stake in shares of ProShares Ultra QQQ during the 1st quarter valued at about $26,000. Farmers & Merchants Investments Inc. raised its position in shares of ProShares Ultra QQQ by 100.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 800 shares of the company’s stock valued at $56,000 after buying an additional 400 shares in the last quarter. Monetary Solutions Ltd purchased a new stake in shares of ProShares Ultra QQQ during the 4th quarter valued at about $59,000. Parallel Advisors LLC raised its position in shares of ProShares Ultra QQQ by 100.2% during the 4th quarter. Parallel Advisors LLC now owns 923 shares of the company’s stock valued at $65,000 after buying an additional 462 shares in the last quarter. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of ProShares Ultra QQQ during the 1st quarter valued at about $66,000.

ProShares Ultra QQQ Company Profile

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.