Short Interest in ProShares UltraShort QQQ (NYSEARCA:QID) Decreases By 77.3%

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a large drop in short interest in the month of February. As of February 27th, there was short interest totaling 552,001 shares, a drop of 77.3% from the February 12th total of 2,435,552 shares. Based on an average daily volume of 20,642,672 shares, the days-to-cover ratio is presently 0.0 days. Currently, 4.6% of the company’s stock are short sold. Currently, 4.6% of the company’s stock are short sold. Based on an average daily volume of 20,642,672 shares, the days-to-cover ratio is presently 0.0 days.

ProShares UltraShort QQQ Stock Performance

Shares of QID stock traded up $0.72 on Thursday, hitting $21.44. The stock had a trading volume of 27,094,650 shares, compared to its average volume of 28,367,719. ProShares UltraShort QQQ has a 12-month low of $18.87 and a 12-month high of $50.45. The business has a 50 day moving average of $20.31 and a 200 day moving average of $20.91.

Institutional Investors Weigh In On ProShares UltraShort QQQ

Large investors have recently added to or reduced their stakes in the business. Farther Finance Advisors LLC purchased a new stake in ProShares UltraShort QQQ in the fourth quarter worth about $48,000. Bogart Wealth LLC bought a new stake in ProShares UltraShort QQQ in the third quarter worth $73,000. SBI Securities Co. Ltd. lifted its holdings in shares of ProShares UltraShort QQQ by 103.2% in the 2nd quarter. SBI Securities Co. Ltd. now owns 3,438 shares of the exchange traded fund’s stock valued at $87,000 after acquiring an additional 1,746 shares during the last quarter. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of ProShares UltraShort QQQ during the 2nd quarter valued at approximately $190,000. Finally, Captrust Financial Advisors raised its stake in shares of ProShares UltraShort QQQ by 15.5% in the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock valued at $232,000 after acquiring an additional 1,228 shares during the period.

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.