ProShares UltraShort Top QQQ (NASDAQ:QQDN) Short Interest Update

ProShares UltraShort Top QQQ (NASDAQ:QQDN) saw a large drop in short interest in May. As of May 15th, there was short interest totaling 582 shares, a drop of 88.2% from the April 30th total of 4,937 shares. Approximately 1.2% of the company’s stock are short sold. Based on an average trading volume of 2,267 shares, the days-to-cover ratio is currently 0.3 days.

ProShares UltraShort Top QQQ Price Performance

Shares of QQDN traded down $0.24 during mid-day trading on Thursday, hitting $20.36. 1,416 shares of the company’s stock were exchanged, compared to its average volume of 3,216. ProShares UltraShort Top QQQ has a 52 week low of $19.63 and a 52 week high of $41.14. The company has a 50-day simple moving average of $25.82 and a 200 day simple moving average of $26.47.

Hedge Funds Weigh In On ProShares UltraShort Top QQQ

A hedge fund recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets bought a new stake in ProShares UltraShort Top QQQ (NASDAQ:QQDN) in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned approximately 90.91% of ProShares UltraShort Top QQQ at the end of the most recent quarter.

About ProShares UltraShort Top QQQ

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.