Short Interest in ProShares UltraShort Top QQQ (NASDAQ:QQDN) Rises By 138.2%

ProShares UltraShort Top QQQ (NASDAQ:QQDN) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 729 shares, an increase of 138.2% from the June 30th total of 306 shares. Approximately 1.5% of the company’s shares are short sold. Based on an average daily volume of 1,365 shares, the days-to-cover ratio is currently 0.5 days.

ProShares UltraShort Top QQQ Stock Performance

ProShares UltraShort Top QQQ stock traded up $0.75 during trading hours on Wednesday, reaching $24.66. 854 shares of the company’s stock traded hands, compared to its average volume of 3,095. ProShares UltraShort Top QQQ has a fifty-two week low of $19.63 and a fifty-two week high of $35.03. The firm’s 50 day moving average is $22.62 and its 200-day moving average is $25.59.

Hedge Funds Weigh In On ProShares UltraShort Top QQQ

An institutional investor recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets bought a new position in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned 90.91% of ProShares UltraShort Top QQQ as of its most recent filing with the Securities and Exchange Commission.

ProShares UltraShort Top QQQ Company Profile

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.