ProShares UltraShort QQQ (NYSEARCA:QID) Sees Large Decline in Short Interest

ProShares UltraShort QQQ (NYSEARCA:QID) was the recipient of a large decline in short interest in September. As of September 30th, there was short interest totaling 2,079,532 shares, a decline of 43.3% from the September 15th total of 3,669,383 shares. Currently, 13.2% of the company’s stock are short sold. Based on an average trading volume of 38,195,838 shares, the short-interest ratio is presently 0.1 days.

ProShares UltraShort QQQ Stock Up 0.0%

Shares of ProShares UltraShort QQQ stock traded up $0.01 on Thursday, reaching $13.62. The stock had a trading volume of 35,113,367 shares, compared to its average volume of 25,448,117. ProShares UltraShort QQQ has a 1 year low of $12.41 and a 1 year high of $24.52. The company has a 50 day moving average price of $13.81 and a 200 day moving average price of $15.23.

Institutional Investors Weigh In On ProShares UltraShort QQQ

Several institutional investors have recently added to or reduced their stakes in QID. Hamilton Wealth LLC acquired a new position in shares of ProShares UltraShort QQQ in the 4th quarter valued at $1,103,000. Genesis Financial Group LLC purchased a new position in ProShares UltraShort QQQ in the 1st quarter worth $5,067,000. IMC Chicago LLC purchased a new position in ProShares UltraShort QQQ in the 1st quarter worth $2,300,000. Rothschild Capital Partners LLC purchased a new position in ProShares UltraShort QQQ in the 2nd quarter worth $4,201,000. Finally, Headlands Technologies LLC lifted its position in ProShares UltraShort QQQ by 169.7% during the 2nd quarter. Headlands Technologies LLC now owns 70,440 shares of the exchange traded fund’s stock worth $954,000 after acquiring an additional 44,326 shares during the period.

About ProShares UltraShort QQQ

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.