ProShares UltraShort QQQ (NYSEARCA:QID – Get Free Report) was the recipient of a large decline in short interest in the month of June. As of June 15th, there was short interest totaling 1,362,752 shares, a decline of 51.1% from the May 31st total of 2,786,922 shares. Based on an average trading volume of 28,326,408 shares, the short-interest ratio is presently 0.0 days. Currently, 8.3% of the company’s shares are sold short.
ProShares UltraShort QQQ Stock Performance
Shares of ProShares UltraShort QQQ stock traded down $0.51 on Tuesday, hitting $13.49. 6,609,323 shares of the company’s stock traded hands, compared to its average volume of 25,166,707. The firm’s 50-day moving average price is $15.13 and its two-hundred day moving average price is $18.68. ProShares UltraShort QQQ has a one year low of $13.39 and a one year high of $25.96.
Hedge Funds Weigh In On ProShares UltraShort QQQ
Several hedge funds have recently added to or reduced their stakes in QID. Blueprint Financial Advisors LLC bought a new position in ProShares UltraShort QQQ during the 3rd quarter worth approximately $745,000. Blueprint Investment Partners LLC bought a new position in shares of ProShares UltraShort QQQ during the third quarter worth $745,000. Hamilton Wealth LLC acquired a new position in shares of ProShares UltraShort QQQ in the 4th quarter valued at $1,103,000. Hillsdale Investment Management Inc. acquired a new position in shares of ProShares UltraShort QQQ in the 4th quarter valued at $689,000. Finally, Farther Finance Advisors LLC bought a new stake in shares of ProShares UltraShort QQQ in the 4th quarter valued at $48,000.
ProShares UltraShort QQQ Company Profile
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.
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