ProShares Ultra QQQ (NYSEARCA:QLD) Shares Up 0.9% – Here’s Why

ProShares Ultra QQQ (NYSEARCA:QLD) traded up 0.9% on Monday . The stock traded as high as $72.24 and last traded at $71.67. 4,285,280 shares changed hands during mid-day trading, a decline of 39% from the average session volume of 7,004,015 shares. The stock had previously closed at $71.05.

ProShares Ultra QQQ Trading Up 0.9%

The firm has a market cap of $10.58 billion, a PE ratio of 31.03 and a beta of 2.31. The company has a 50-day simple moving average of $71.01 and a 200 day simple moving average of $65.23.

Institutional Investors Weigh In On ProShares Ultra QQQ

A number of hedge funds and other institutional investors have recently modified their holdings of QLD. Beacon Capital Management Inc. purchased a new position in ProShares Ultra QQQ during the 2nd quarter worth $27,000. Elevation Point Wealth Partners LLC purchased a new stake in ProShares Ultra QQQ in the 2nd quarter worth approximately $38,000. Qube Research & Technologies Ltd acquired a new position in ProShares Ultra QQQ in the third quarter valued at $71,000. Financial Consulate Inc. acquired a new position in shares of ProShares Ultra QQQ in the 3rd quarter valued at $78,000. Finally, MassMutual Private Wealth & Trust FSB grew its stake in ProShares Ultra QQQ by 38.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 949 shares of the company’s stock worth $112,000 after buying an additional 262 shares during the period.

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.