ProShares Ultra QQQ Target of Unusually Large Options Trading (NYSEARCA:QLD)

ProShares Ultra QQQ (NYSEARCA:QLD) was the target of some unusual options trading on Wednesday. Investors purchased 6,021 put options on the company. This represents an increase of 209% compared to the average volume of 1,949 put options.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several institutional investors and hedge funds have recently bought and sold shares of QLD. Howard Capital Management Inc. increased its position in shares of ProShares Ultra QQQ by 7,370.9% during the second quarter. Howard Capital Management Inc. now owns 6,471,937 shares of the company’s stock worth $762,617,000 after purchasing an additional 6,385,308 shares in the last quarter. Quadrature Capital Ltd purchased a new stake in shares of ProShares Ultra QQQ during the second quarter worth about $39,925,000. Global View Capital Management LLC increased its holdings in shares of ProShares Ultra QQQ by 45.2% during the second quarter. Global View Capital Management LLC now owns 816,412 shares of the company’s stock valued at $96,100,000 after acquiring an additional 254,025 shares in the last quarter. CWM LLC purchased a new position in shares of ProShares Ultra QQQ in the 3rd quarter valued at approximately $17,098,000. Finally, Marshall Financial Group LLC raised its position in shares of ProShares Ultra QQQ by 40.1% in the 2nd quarter. Marshall Financial Group LLC now owns 256,981 shares of the company’s stock valued at $30,247,000 after purchasing an additional 73,580 shares during the last quarter.

ProShares Ultra QQQ Price Performance

Shares of QLD stock traded down $0.29 during mid-day trading on Wednesday, hitting $71.32. 1,568,409 shares of the stock traded hands, compared to its average volume of 6,908,085. The stock has a market cap of $10.53 billion, a P/E ratio of 31.03 and a beta of 2.31. The stock’s fifty day moving average is $71.39 and its two-hundred day moving average is $65.98. ProShares Ultra QQQ has a 52-week low of $32.36 and a 52-week high of $76.67.

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.