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

ProShares UltraShort QQQ (NYSEARCA:QID) saw a significant decrease in short interest in June. As of June 15th, there was short interest totaling 1,362,752 shares, a decrease of 51.1% from the May 31st total of 2,786,922 shares. Based on an average trading volume of 28,326,408 shares, the days-to-cover ratio is presently 0.0 days. Approximately 8.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the stock. Blueprint Financial Advisors LLC acquired a new stake in shares of ProShares UltraShort QQQ during the third quarter worth $745,000. Blueprint Investment Partners LLC acquired a new position in ProShares UltraShort QQQ in the 3rd quarter worth $745,000. Hamilton Wealth LLC acquired a new position in ProShares UltraShort QQQ in the 4th quarter worth $1,103,000. Integrated Advisors Network LLC bought a new position in ProShares UltraShort QQQ during the 3rd quarter worth about $421,000. Finally, Group One Trading LLC increased its holdings in ProShares UltraShort QQQ by 47.3% during the 1st quarter. Group One Trading LLC now owns 28,491 shares of the exchange traded fund’s stock worth $646,000 after purchasing an additional 9,143 shares in the last quarter.

ProShares UltraShort QQQ Trading Down 3.6%

Shares of NYSEARCA:QID traded down $0.51 during trading on Tuesday, hitting $13.49. 6,609,323 shares of the company’s stock traded hands, compared to its average volume of 25,166,707. ProShares UltraShort QQQ has a 52 week low of $13.39 and a 52 week high of $25.96. The company has a 50-day moving average price of $15.13 and a 200-day moving average price of $18.68.

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.