ProShares Ultra Top QQQ (NASDAQ:QQUP) Short Interest Down 52.6% in April

ProShares Ultra Top QQQ (NASDAQ:QQUP) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 3,444 shares, a drop of 52.6% from the April 15th total of 7,271 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average trading volume of 7,397 shares, the days-to-cover ratio is currently 0.5 days.

Hedge Funds Weigh In On ProShares Ultra Top QQQ

A hedge fund recently bought a new stake in ProShares Ultra Top QQQ stock. BNP Paribas Financial Markets purchased a new stake in ProShares Ultra Top QQQ (NASDAQ:QQUP) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund purchased 100,000 shares of the company’s stock, valued at approximately $4,389,000. BNP Paribas Financial Markets owned approximately 31.25% of ProShares Ultra Top QQQ as of its most recent SEC filing.

ProShares Ultra Top QQQ Stock Down 3.0%

Shares of NASDAQ QQUP traded down $2.11 during midday trading on Friday, reaching $68.08. 3,433 shares of the company traded hands, compared to its average volume of 10,619. The stock’s 50-day simple moving average is $52.70 and its 200-day simple moving average is $55.41. ProShares Ultra Top QQQ has a 12 month low of $38.80 and a 12 month high of $70.28.

About ProShares Ultra Top QQQ

ProShares Ultra Top QQQ seeks to deliver 2× the daily performance of the Nasdaq?100?Mega Index using swap-based leverage. It’s designed for short-term trading to gain amplified exposure to mega-cap tech, not for long-term investment.