ProShares Ultra QQQ (NYSEARCA:QLD) Short Interest Down 41.9% in June

ProShares Ultra QQQ (NYSEARCA:QLD) was the recipient of a large decrease in short interest during the month of June. As of June 30th, there was short interest totaling 1,142,127 shares, a decrease of 41.9% from the June 15th total of 1,965,191 shares. Based on an average daily volume of 4,402,051 shares, the days-to-cover ratio is presently 0.3 days. Currently, 0.8% of the shares of the company are short sold.

ProShares Ultra QQQ Trading Down 3.0%

QLD opened at $85.91 on Friday. The company’s 50 day moving average is $93.21 and its 200 day moving average is $78.26. The company has a market cap of $12.97 billion, a price-to-earnings ratio of 31.03 and a beta of 2.45. ProShares Ultra QQQ has a 12-month low of $56.60 and a 12-month high of $101.19.

Hedge Funds Weigh In On ProShares Ultra QQQ

A number of institutional investors have recently bought and sold shares of QLD. Portus Wealth Advisors LLC purchased a new stake in ProShares Ultra QQQ in the first quarter worth about $26,000. Farmers & Merchants Investments Inc. raised its stake in ProShares Ultra QQQ by 100.0% during the 4th quarter. Farmers & Merchants Investments Inc. now owns 800 shares of the company’s stock worth $56,000 after acquiring an additional 400 shares during the period. Monetary Solutions Ltd purchased a new position in ProShares Ultra QQQ during the fourth quarter valued at approximately $59,000. Parallel Advisors LLC boosted its position in shares of ProShares Ultra QQQ by 100.2% in the fourth quarter. Parallel Advisors LLC now owns 923 shares of the company’s stock worth $65,000 after purchasing an additional 462 shares during the period. Finally, Physician Wealth Advisors Inc. purchased a new stake in shares of ProShares Ultra QQQ in the first quarter worth $66,000.

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.