ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Update

ProShares UltraShort QQQ (NYSEARCA:QID) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 820,271 shares, a growth of 48.6% from the February 26th total of 552,001 shares. Currently, 6.8% of the shares of the stock are short sold. Based on an average daily volume of 23,460,157 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the company. Farther Finance Advisors LLC acquired a new stake in ProShares UltraShort QQQ during the 4th quarter worth approximately $48,000. Bogart Wealth LLC acquired a new position in ProShares UltraShort QQQ in the 3rd quarter valued at approximately $73,000. Thomas J. Herzfeld Advisors Inc. acquired a new position in ProShares UltraShort QQQ in the 2nd quarter valued at approximately $190,000. Captrust Financial Advisors raised its stake in shares of ProShares UltraShort QQQ by 15.5% during the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after acquiring an additional 1,228 shares during the last quarter. Finally, Werba Rubin Papier Wealth Management acquired a new position in shares of ProShares UltraShort QQQ during the fourth quarter worth $283,000.

ProShares UltraShort QQQ Price Performance

NYSEARCA:QID traded up $0.90 on Friday, hitting $23.92. The company had a trading volume of 12,348,620 shares, compared to its average volume of 27,202,063. The firm has a 50 day moving average of $20.84 and a two-hundred day moving average of $20.77. ProShares UltraShort QQQ has a 52 week low of $18.87 and a 52 week high of $50.45.

ProShares UltraShort QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be given a $0.1471 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $0.59 annualized dividend and a yield of 2.5%.

About ProShares UltraShort QQQ

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.