ProShares UltraShort QQQ (NYSEARCA:QID) Sees Significant Increase in Short Interest
by Scott Moore · The Cerbat GemProShares UltraShort QQQ (NYSEARCA:QID – Get Free Report) was the recipient of a large increase in short interest during the month of April. As of April 15th, there was short interest totaling 2,983,000 shares, an increase of 95.1% from the March 31st total of 1,529,148 shares. Currently, 16.1% of the shares of the company are short sold. Based on an average daily volume of 16,452,100 shares, the days-to-cover ratio is presently 0.2 days.
Institutional Trading of ProShares UltraShort QQQ
Hedge funds have recently bought and sold shares of the company. Farther Finance Advisors LLC bought a new stake in ProShares UltraShort QQQ in the 4th quarter valued at about $48,000. Bogart Wealth LLC bought a new stake in ProShares UltraShort QQQ in the 3rd quarter valued at about $73,000. Captrust Financial Advisors lifted its position in ProShares UltraShort QQQ by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after purchasing an additional 1,228 shares during the last quarter. Werba Rubin Papier Wealth Management bought a new stake in ProShares UltraShort QQQ in the 4th quarter valued at about $283,000. Finally, Sierra Capital LLC bought a new stake in ProShares UltraShort QQQ in the 4th quarter valued at about $288,000.
ProShares UltraShort QQQ Trading Down 3.8%
NYSEARCA:QID traded down $0.68 during mid-day trading on Friday, hitting $17.11. The stock had a trading volume of 33,238,964 shares, compared to its average volume of 25,774,951. The company has a 50 day simple moving average of $20.79 and a 200-day simple moving average of $20.50. ProShares UltraShort QQQ has a 52 week low of $17.08 and a 52 week high of $36.20.
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.