Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Grows By 28.6%

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the recipient of a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 29,304,568 shares, an increase of 28.6% from the February 26th total of 22,781,505 shares. Currently, 5.5% of the company’s stock are sold short. Based on an average daily trading volume, of 126,402,430 shares, the days-to-cover ratio is currently 0.2 days.

ProShares UltraPro QQQ Trading Up 9.4%

NASDAQ TQQQ traded up $3.55 on Tuesday, hitting $41.44. 118,876,051 shares of the stock traded hands, compared to its average volume of 103,650,836. The stock has a 50-day moving average of $49.18 and a 200 day moving average of $51.91. ProShares UltraPro QQQ has a twelve month low of $17.50 and a twelve month high of $60.69. The company has a market capitalization of $22.24 billion, a P/E ratio of 38.25 and a beta of 3.46.

ProShares UltraPro QQQ Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a $0.0716 dividend. This represents a $0.29 dividend on an annualized basis and a dividend yield of 0.7%. The ex-dividend date is Wednesday, March 25th.

Institutional Inflows and Outflows

Large investors have recently modified their holdings of the business. Howard Capital Management Inc. raised its stake in ProShares UltraPro QQQ by 83.6% during the fourth quarter. Howard Capital Management Inc. now owns 8,465,262 shares of the exchange traded fund’s stock worth $446,289,000 after acquiring an additional 3,855,510 shares during the period. Oriental Harbor Investment Master Fund boosted its stake in ProShares UltraPro QQQ by 100.0% in the fourth quarter. Oriental Harbor Investment Master Fund now owns 2,401,640 shares of the exchange traded fund’s stock valued at $126,614,000 after acquiring an additional 1,200,820 shares during the period. PPSC Investment Service Corp boosted its stake in ProShares UltraPro QQQ by 116.1% in the fourth quarter. PPSC Investment Service Corp now owns 1,248,785 shares of the exchange traded fund’s stock valued at $65,836,000 after acquiring an additional 671,023 shares during the period. McElhenny Sheffield Capital Management LLC grew its holdings in shares of ProShares UltraPro QQQ by 77.7% during the fourth quarter. McElhenny Sheffield Capital Management LLC now owns 1,213,489 shares of the exchange traded fund’s stock valued at $63,975,000 after purchasing an additional 530,708 shares during the last quarter. Finally, Cantor Fitzgerald L. P. grew its holdings in shares of ProShares UltraPro QQQ by 823.5% during the third quarter. Cantor Fitzgerald L. P. now owns 779,017 shares of the exchange traded fund’s stock valued at $80,550,000 after purchasing an additional 694,661 shares during the last quarter.

About ProShares UltraPro QQQ

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.