ProShares UltraShort Top QQQ (NASDAQ:QQDN) Short Interest Up 304.1% in June

ProShares UltraShort Top QQQ (NASDAQ:QQDN) saw a significant growth in short interest during the month of June. As of June 15th, there was short interest totaling 3,447 shares, a growth of 304.1% from the May 31st total of 853 shares. Currently, 6.9% of the company’s shares are short sold. Based on an average daily trading volume, of 5,708 shares, the short-interest ratio is presently 0.6 days.

Hedge Funds Weigh In On ProShares UltraShort Top QQQ

A hedge fund recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets purchased a new position in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm purchased 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned about 90.91% of ProShares UltraShort Top QQQ at the end of the most recent reporting period.

ProShares UltraShort Top QQQ Trading Down 3.3%

Shares of QQDN stock traded down $0.85 on Monday, hitting $24.77. 1,064 shares of the stock traded hands, compared to its average volume of 3,386. ProShares UltraShort Top QQQ has a twelve month low of $19.63 and a twelve month high of $38.04. The firm’s 50-day moving average price is $22.35 and its two-hundred day moving average price is $26.02.

About ProShares UltraShort Top QQQ

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.