Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Drops By 37.9%

ProShares UltraPro QQQ (NASDAQ:TQQQ) saw a large decline in short interest during the month of May. As of May 29th, there was short interest totaling 19,091,229 shares, a decline of 37.9% from the May 14th total of 30,764,966 shares. Based on an average daily volume of 69,255,156 shares, the days-to-cover ratio is currently 0.3 days. Currently, 3.9% of the shares of the stock are sold short.

ProShares UltraPro QQQ Stock Down 5.5%

Shares of TQQQ opened at $79.93 on Wednesday. ProShares UltraPro QQQ has a 52-week low of $35.71 and a 52-week high of $88.09. The firm’s fifty day moving average is $69.38 and its two-hundred day moving average is $57.49. The stock has a market cap of $39.42 billion, a PE ratio of 38.25 and a beta of 3.71.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. WFA of San Diego LLC acquired a new stake in ProShares UltraPro QQQ during the 2nd quarter worth $25,000. CoreCap Advisors LLC boosted its stake in ProShares UltraPro QQQ by 69.8% during the 4th quarter. CoreCap Advisors LLC now owns 584 shares of the exchange traded fund’s stock worth $31,000 after purchasing an additional 240 shares during the last quarter. BOKF NA acquired a new stake in ProShares UltraPro QQQ during the 3rd quarter worth $31,000. Rothschild Investment LLC boosted its stake in ProShares UltraPro QQQ by 100.0% during the 4th quarter. Rothschild Investment LLC now owns 700 shares of the exchange traded fund’s stock worth $37,000 after purchasing an additional 350 shares during the last quarter. Finally, Dogwood Wealth Management LLC acquired a new stake in ProShares UltraPro QQQ during the 4th quarter worth $44,000.

ProShares UltraPro QQQ Company Profile

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.