ProShares Ultra QQQ Target of Unusually High Options Trading (NYSEARCA:QLD)

ProShares Ultra QQQ (NYSEARCA:QLD) was the recipient of some unusual options trading activity on Monday. Traders acquired 3,293 call options on the stock. This represents an increase of approximately 118% compared to the average daily volume of 1,513 call options.

Institutional Investors Weigh In On ProShares Ultra QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in the company. Bullseye Investment Management LLC bought a new position in ProShares Ultra QQQ in the second quarter valued at about $33,000. Integrated Wealth Concepts LLC acquired a new position in ProShares Ultra QQQ during the 2nd quarter valued at about $186,000. Tucker Asset Management LLC acquired a new position in ProShares Ultra QQQ during the 2nd quarter valued at about $268,000. Old Mission Investment Co LLC bought a new position in shares of ProShares Ultra QQQ in the 2nd quarter valued at about $316,000. Finally, Sound Financial Strategies Group LLC bought a new position in shares of ProShares Ultra QQQ in the 2nd quarter valued at about $1,294,000.

ProShares Ultra QQQ Price Performance

Shares of QLD stock traded up $3.74 during trading hours on Monday, reaching $94.74. 1,487,084 shares of the company were exchanged, compared to its average volume of 4,942,318. ProShares Ultra QQQ has a fifty-two week low of $56.60 and a fifty-two week high of $101.19. The stock’s fifty day moving average is $88.85 and its two-hundred day moving average is $84.18. The company has a market cap of $14.45 billion, a price-to-earnings ratio of 31.03 and a beta of 2.46.

ProShares Ultra QQQ Company Profile

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.