Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Drops By 37.9%

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 19,091,229 shares, a drop of 37.9% from the May 14th total of 30,764,966 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average daily trading volume, of 69,255,156 shares, the short-interest ratio is currently 0.3 days.

ProShares UltraPro QQQ Price Performance

TQQQ stock opened at $84.03 on Tuesday. The company has a market cap of $41.44 billion, a price-to-earnings ratio of 38.25 and a beta of 3.71. The company has a fifty day moving average price of $68.65 and a 200 day moving average price of $57.30. ProShares UltraPro QQQ has a 12 month low of $35.71 and a 12 month high of $88.09.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Several hedge funds have recently made changes to their positions in the business. Sherman Wealth Management LLC acquired a new stake in shares of ProShares UltraPro QQQ during the 4th quarter worth $2,249,000. Paragon Advisors LLC boosted its holdings in ProShares UltraPro QQQ by 104.6% in the fourth quarter. Paragon Advisors LLC now owns 146,543 shares of the exchange traded fund’s stock valued at $7,726,000 after acquiring an additional 74,933 shares during the last quarter. Spire Wealth Management increased its stake in ProShares UltraPro QQQ by 4,456.0% during the fourth quarter. Spire Wealth Management now owns 28,657 shares of the exchange traded fund’s stock worth $1,511,000 after acquiring an additional 28,028 shares during the last quarter. MFG Wealth Management Inc. raised its holdings in shares of ProShares UltraPro QQQ by 98.3% in the 4th quarter. MFG Wealth Management Inc. now owns 67,453 shares of the exchange traded fund’s stock worth $3,556,000 after purchasing an additional 33,442 shares during the period. Finally, Diversified Trust Co. lifted its stake in shares of ProShares UltraPro QQQ by 100.0% in the 4th quarter. Diversified Trust Co. now owns 110,000 shares of the exchange traded fund’s stock valued at $5,799,000 after purchasing an additional 55,000 shares in 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.