ProShares Ultra QQQ (NYSEARCA:QLD) Sees Large Growth in Short Interest

ProShares Ultra QQQ (NYSEARCA:QLD) was the recipient of a large increase in short interest in the month of October. As of October 15th, there was short interest totaling 1,871,029 shares, an increase of 100.7% from the September 30th total of 932,156 shares. Approximately 1.2% of the shares of the stock are sold short. Based on an average trading volume of 3,913,050 shares, the days-to-cover ratio is presently 0.5 days.

ProShares Ultra QQQ Stock Performance

Shares of NYSEARCA:QLD traded down $6.15 during midday trading on Friday, hitting $82.59. 8,076,818 shares of the stock were exchanged, compared to its average volume of 4,865,388. The stock has a market capitalization of $13.67 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46. ProShares Ultra QQQ has a 12 month low of $56.60 and a 12 month high of $101.62. The business’s 50-day moving average price is $91.91 and its 200 day moving average price is $83.17.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in QLD. Bullseye Investment Management LLC acquired a new position in shares of ProShares Ultra QQQ in the 2nd quarter valued at $33,000. Farmers & Merchants Investments Inc. acquired a new position in ProShares Ultra QQQ in the 3rd quarter valued at $71,000. Physician Wealth Advisors Inc. purchased a new position in ProShares Ultra QQQ in the first quarter valued at about $66,000. Integrated Wealth Concepts LLC acquired a new position in ProShares Ultra QQQ during the 2nd quarter worth $186,000. Finally, Retirement Planning Co of New England Inc. bought a new position in ProShares Ultra QQQ during the 3rd quarter worth approximately $246,000.

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.