ProShares UltraShort QQQ (NYSEARCA:QID) Sees Large Increase in Short Interest

ProShares UltraShort QQQ (NYSEARCA:QID) was the recipient of a significant increase in short interest in the month of January. As of January 15th, there was short interest totaling 1,412,371 shares, an increase of 19.4% from the December 31st total of 1,183,283 shares. Currently, 12.9% of the shares of the company are sold short. Based on an average daily volume of 35,639,740 shares, the days-to-cover ratio is currently 0.0 days. Based on an average daily volume of 35,639,740 shares, the days-to-cover ratio is currently 0.0 days. Currently, 12.9% of the shares of the company are sold short.

ProShares UltraShort QQQ Trading Up 3.5%

QID stock opened at $20.83 on Thursday. ProShares UltraShort QQQ has a 1-year low of $18.87 and a 1-year high of $50.45. The firm has a fifty day moving average price of $19.97 and a two-hundred day moving average price of $21.48.

Hedge Funds Weigh In On ProShares UltraShort QQQ

A number of large investors have recently bought and sold shares of the business. Werba Rubin Papier Wealth Management bought a new position in shares of ProShares UltraShort QQQ during the fourth quarter valued at approximately $283,000. Farther Finance Advisors LLC acquired a new position in ProShares UltraShort QQQ during the 4th quarter valued at approximately $48,000. Southport Management L.L.C. grew its stake in ProShares UltraShort QQQ by 41.7% during the 3rd quarter. Southport Management L.L.C. now owns 34,000 shares of the exchange traded fund’s stock worth $732,000 after buying an additional 10,000 shares during the last quarter. UBS Group AG increased its position in ProShares UltraShort QQQ by 32.7% in the third quarter. UBS Group AG now owns 70,197 shares of the exchange traded fund’s stock worth $1,511,000 after buying an additional 17,279 shares during the period. Finally, Blueprint Financial Advisors LLC bought a new stake in ProShares UltraShort QQQ in the third quarter valued at $745,000.

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.