ProShares UltraPro QQQ (NASDAQ:TQQQ) Sees Large Decrease in Short Interest

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the target of a significant drop in short interest during the month of December. As of December 31st, there was short interest totaling 12,880,352 shares, a drop of 43.4% from the December 15th total of 22,743,629 shares. Based on an average daily volume of 66,467,946 shares, the days-to-cover ratio is presently 0.2 days. Approximately 2.3% of the company’s shares are short sold. Approximately 2.3% of the company’s shares are short sold. Based on an average daily volume of 66,467,946 shares, the days-to-cover ratio is presently 0.2 days.

ProShares UltraPro QQQ Price Performance

NASDAQ TQQQ traded down $0.24 during trading on Friday, reaching $54.14. 75,548,419 shares of the company’s stock traded hands, compared to its average volume of 83,079,164. ProShares UltraPro QQQ has a 12-month low of $17.50 and a 12-month high of $60.69. The firm has a market cap of $29.90 billion, a price-to-earnings ratio of 38.25 and a beta of 3.46. The company’s 50 day simple moving average is $53.64 and its two-hundred day simple moving average is $49.96.

ProShares UltraPro QQQ Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, December 31st. Stockholders of record on Wednesday, December 24th were issued a $0.0855 dividend. The ex-dividend date was Wednesday, December 24th. This represents a $0.34 dividend on an annualized basis and a dividend yield of 0.6%. This is an increase from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05.

Institutional Investors Weigh In On ProShares UltraPro QQQ

A number of hedge funds and other institutional investors have recently bought and sold shares of TQQQ. Howard Capital Management Inc. grew its holdings in ProShares UltraPro QQQ by 1,071.0% in the second quarter. Howard Capital Management Inc. now owns 4,855,196 shares of the exchange traded fund’s stock worth $404,067,000 after purchasing an additional 4,440,578 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new position in ProShares UltraPro QQQ during the 2nd quarter valued at about $395,951,000. IMC Chicago LLC raised its stake in ProShares UltraPro QQQ by 9,296.8% in the second quarter. IMC Chicago LLC now owns 1,168,112 shares of the exchange traded fund’s stock valued at $96,953,000 after buying an additional 1,155,681 shares during the last quarter. Cantor Fitzgerald L. P. boosted its holdings in ProShares UltraPro QQQ by 823.5% in the third quarter. Cantor Fitzgerald L. P. now owns 779,017 shares of the exchange traded fund’s stock worth $80,550,000 after acquiring an additional 694,661 shares in the last quarter. Finally, McElhenny Sheffield Capital Management LLC grew its stake in shares of ProShares UltraPro QQQ by 4.8% during the third quarter. McElhenny Sheffield Capital Management LLC now owns 682,781 shares of the exchange traded fund’s stock worth $70,600,000 after acquiring an additional 31,361 shares during the last quarter.

About ProShares UltraPro QQQ

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.