ProShares Ultra QQQ (NYSEARCA:QLD) Reaches New 1-Year High – Time to Buy?

ProShares Ultra QQQ (NYSEARCA:QLD)’s stock price reached a new 52-week high during mid-day trading on Tuesday . The stock traded as high as $95.48 and last traded at $95.18, with a volume of 1146871 shares changing hands. The stock had previously closed at $93.10.

ProShares Ultra QQQ Stock Down 0.2%

The stock has a market cap of $14.25 billion, a P/E ratio of 31.03 and a beta of 2.43. The business has a 50 day moving average price of $76.63 and a two-hundred day moving average price of $72.40.

Hedge Funds Weigh In On ProShares Ultra QQQ

A number of hedge funds have recently made changes to their positions in QLD. Donaldson Capital Management LLC lifted its position in shares of ProShares Ultra QQQ by 100.0% in the fourth quarter. Donaldson Capital Management LLC now owns 28,000 shares of the company’s stock worth $1,971,000 after buying an additional 14,000 shares in the last quarter. PMV Capital Advisers LLC lifted its position in shares of ProShares Ultra QQQ by 125.7% in the fourth quarter. PMV Capital Advisers LLC now owns 33,288 shares of the company’s stock worth $2,344,000 after buying an additional 18,538 shares in the last quarter. CPR Investments Inc. lifted its position in shares of ProShares Ultra QQQ by 277.3% in the fourth quarter. CPR Investments Inc. now owns 12,673 shares of the company’s stock worth $926,000 after buying an additional 9,314 shares in the last quarter. Sowell Financial Services LLC lifted its position in shares of ProShares Ultra QQQ by 96.4% in the fourth quarter. Sowell Financial Services LLC now owns 46,863 shares of the company’s stock worth $3,300,000 after buying an additional 23,002 shares in the last quarter. Finally, GenWealth Group Inc. lifted its position in shares of ProShares Ultra QQQ by 99.0% in the fourth quarter. GenWealth Group Inc. now owns 135,127 shares of the company’s stock worth $9,791,000 after buying an additional 67,207 shares in the last quarter.

About ProShares Ultra QQQ

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements. The Index is calculated under a modified capitalization-weighted methodology.