ProShares Ultra QQQ Target of Unusually Large Options Trading (NYSEARCA:QLD)

ProShares Ultra QQQ (NYSEARCA:QLD) saw some unusual options trading activity on Tuesday. Investors purchased 3,889 put options on the stock. This is an increase of approximately 161% compared to the typical volume of 1,492 put options.

ProShares Ultra QQQ Stock Performance

Shares of ProShares Ultra QQQ stock traded down $1.11 during trading on Tuesday, hitting $86.98. 1,663,124 shares of the stock were exchanged, compared to its average volume of 4,984,157. ProShares Ultra QQQ has a 12 month low of $56.60 and a 12 month high of $101.19. The stock’s fifty day moving average is $89.08 and its 200 day moving average is $83.61. The stock has a market cap of $13.27 billion, a PE ratio of 31.03 and a beta of 2.46.

Hedge Funds Weigh In On ProShares Ultra QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Clearstead Trust LLC raised its stake in shares of ProShares Ultra QQQ by 102.4% during the fourth quarter. Clearstead Trust LLC now owns 731,539 shares of the company’s stock valued at $51,508,000 after purchasing an additional 370,086 shares in the last quarter. Discipline Wealth Solutions LLC boosted its stake in ProShares Ultra QQQ by 316.3% during the 1st quarter. Discipline Wealth Solutions LLC now owns 122,373 shares of the company’s stock valued at $7,465,000 after purchasing an additional 92,975 shares in the last quarter. HighTower Advisors LLC raised its stake in shares of ProShares Ultra QQQ by 121.8% in the 4th quarter. HighTower Advisors LLC now owns 136,905 shares of the company’s stock worth $9,639,000 after buying an additional 75,185 shares in the last quarter. Connective Capital Management LLC grew its holdings in ProShares Ultra QQQ by 100.0% during the fourth quarter. Connective Capital Management LLC now owns 105,918 shares of the company’s stock worth $7,458,000 after acquiring an additional 52,959 shares during the period. Finally, Arax Advisory Partners bought a new position in shares of ProShares Ultra QQQ during the 4th quarter valued at about $2,478,000.

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.