ProShares UltraShort QQQ (NYSEARCA:QID) Sees Significant Drop in Short Interest

ProShares UltraShort QQQ (NYSEARCA:QID) was the recipient of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 2,079,532 shares, a decline of 43.3% from the September 15th total of 3,669,383 shares. Based on an average daily volume of 38,195,838 shares, the days-to-cover ratio is presently 0.1 days. Approximately 13.2% of the shares of the company are short sold.

Institutional Trading of ProShares UltraShort QQQ

Several large investors have recently made changes to their positions in QID. Tidal Investments LLC acquired a new stake in shares of ProShares UltraShort QQQ in the second quarter worth $543,000. F&V Capital Management LLC purchased a new position in shares of ProShares UltraShort QQQ during the second quarter worth $338,000. Rothschild Capital Partners LLC purchased a new position in shares of ProShares UltraShort QQQ during the second quarter worth $4,201,000. Headlands Technologies LLC raised its holdings in shares of ProShares UltraShort QQQ by 169.7% during the second quarter. Headlands Technologies LLC now owns 70,440 shares of the exchange traded fund’s stock worth $954,000 after purchasing an additional 44,326 shares during the last quarter. Finally, Balefire LLC acquired a new position in ProShares UltraShort QQQ during the second quarter valued at $387,000.

ProShares UltraShort QQQ Price Performance

NYSEARCA QID traded up $0.01 during trading hours on Thursday, reaching $13.62. The stock had a trading volume of 35,113,367 shares, compared to its average volume of 25,448,117. The stock has a fifty day moving average of $13.81 and a 200 day moving average of $15.23. ProShares UltraShort QQQ has a 52-week low of $12.41 and a 52-week high of $24.52.

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.