ProShares UltraShort Top QQQ (NASDAQ:QQDN) Sees Significant Growth in Short Interest

ProShares UltraShort Top QQQ (NASDAQ:QQDN) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totaling 729 shares, an increase of 138.2% from the June 30th total of 306 shares. Currently, 1.5% of the shares of the company are sold short. Based on an average trading volume of 1,365 shares, the short-interest ratio is currently 0.5 days.

Institutional Investors Weigh In On ProShares UltraShort Top QQQ

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

ProShares UltraShort Top QQQ Stock Down 6.0%

QQDN traded down $1.47 during midday trading on Thursday, reaching $23.19. The company had a trading volume of 160 shares, compared to its average volume of 3,074. ProShares UltraShort Top QQQ has a 12-month low of $19.63 and a 12-month high of $35.03. The business has a 50-day moving average price of $22.70 and a two-hundred day moving average price of $25.58.

ProShares UltraShort Top QQQ Company Profile

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.