ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 1-Year High – Here’s Why

ProShares Ultra QQQ (NYSEARCA:QLD)’s share price reached a new 52-week high during trading on Thursday . The stock traded as high as $78.24 and last traded at $78.18, with a volume of 4073032 shares changing hands. The stock had previously closed at $75.67.

ProShares Ultra QQQ Stock Performance

The stock has a market cap of $11.52 billion, a price-to-earnings ratio of 31.03 and a beta of 2.37. The company’s 50 day simple moving average is $67.00 and its 200 day simple moving average is $69.65.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several large investors have recently made changes to their positions in the business. Howard Capital Management Inc. boosted its position in shares of ProShares Ultra QQQ by 95.4% during the 4th quarter. Howard Capital Management Inc. now owns 12,277,706 shares of the company’s stock valued at $864,473,000 after purchasing an additional 5,993,035 shares in the last quarter. Global View Capital Management LLC boosted its position in shares of ProShares Ultra QQQ by 116.2% during the 4th quarter. Global View Capital Management LLC now owns 1,802,525 shares of the company’s stock valued at $126,916,000 after purchasing an additional 968,727 shares in the last quarter. Main Street Group LTD boosted its position in shares of ProShares Ultra QQQ by 89.9% during the 4th quarter. Main Street Group LTD now owns 1,039,176 shares of the company’s stock valued at $73,168,000 after purchasing an additional 491,865 shares in the last quarter. Clearstead Trust LLC boosted its position in shares of ProShares Ultra QQQ by 102.4% during the 4th quarter. Clearstead Trust LLC now owns 731,539 shares of the company’s stock valued at $51,508,000 after purchasing an additional 370,086 shares in the last quarter. Finally, Focus Financial Network Inc. boosted its position in shares of ProShares Ultra QQQ by 100.1% during the 4th quarter. Focus Financial Network Inc. now owns 599,334 shares of the company’s stock valued at $42,199,000 after purchasing an additional 299,761 shares in the last quarter.

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.