ProShares UltraShort Top QQQ (NASDAQ:QQDN) Sees Large Growth in Short Interest

ProShares UltraShort Top QQQ (NASDAQ:QQDN) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 1,716 shares, an increase of 119.4% from the August 15th total of 782 shares. Approximately 3.4% of the shares of the stock are short sold. Based on an average daily volume of 1,586 shares, the short-interest ratio is presently 1.1 days.

ProShares UltraShort Top QQQ Trading Up 2.2%

QQDN traded up $0.46 on Tuesday, reaching $21.29. The company had a trading volume of 497 shares, compared to its average volume of 2,862. ProShares UltraShort Top QQQ has a 52-week low of $19.63 and a 52-week high of $35.03. The business has a 50 day simple moving average of $21.50 and a 200 day simple moving average of $24.09.

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.