ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Update

ProShares UltraShort QQQ (NYSEARCA:QID) saw a large growth in short interest in March. As of March 13th, there was short interest totaling 820,271 shares, a growth of 48.6% from the February 26th total of 552,001 shares. Approximately 6.8% of the company’s shares are short sold. Based on an average trading volume of 23,460,157 shares, the days-to-cover ratio is presently 0.0 days.

Hedge Funds Weigh In On ProShares UltraShort QQQ

A number of institutional investors have recently modified their holdings of QID. Farther Finance Advisors LLC purchased a new stake in shares of ProShares UltraShort QQQ during the fourth quarter valued at approximately $48,000. Bogart Wealth LLC bought a new position in ProShares UltraShort QQQ in the 3rd quarter valued at $73,000. Thomas J. Herzfeld Advisors Inc. bought a new position in ProShares UltraShort QQQ in the 2nd quarter valued at $190,000. Captrust Financial Advisors increased its position in shares of ProShares UltraShort QQQ by 15.5% during 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. Finally, Werba Rubin Papier Wealth Management purchased a new stake in shares of ProShares UltraShort QQQ during the 4th quarter valued at $283,000.

ProShares UltraShort QQQ Stock Up 3.9%

Shares of ProShares UltraShort QQQ stock traded up $0.90 during trading on Friday, reaching $23.92. 12,348,620 shares of the company traded hands, compared to its average volume of 27,202,063. ProShares UltraShort QQQ has a 1-year low of $18.87 and a 1-year high of $50.45. The company has a 50 day moving average price of $20.84 and a 200-day moving average price of $20.77.

ProShares UltraShort QQQ Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.1471 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.59 annualized dividend and a dividend yield of 2.5%.

ProShares UltraShort QQQ Company Profile

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.