ProShares UltraShort QQQ (NYSEARCA:QID) Short Interest Update

ProShares UltraShort QQQ (NYSEARCA:QID) was the recipient of a significant growth in short interest in August. As of August 31st, there was short interest totaling 3,678,251 shares, a growth of 147.3% from the August 15th total of 1,487,245 shares. Approximately 20.7% of the company’s stock are short sold. Based on an average trading volume of 29,798,475 shares, the days-to-cover ratio is currently 0.1 days.

Hedge Funds Weigh In On ProShares UltraShort QQQ

Hedge funds and other institutional investors have recently modified their holdings of the business. Tidal Investments LLC bought a new position in ProShares UltraShort QQQ in the second quarter worth approximately $543,000. F&V Capital Management LLC bought a new stake in ProShares UltraShort QQQ during the 2nd quarter valued at $338,000. Rothschild Capital Partners LLC bought a new stake in ProShares UltraShort QQQ during the 2nd quarter valued at $4,201,000. Headlands Technologies LLC increased its holdings in shares of ProShares UltraShort QQQ by 169.7% in the 2nd quarter. Headlands Technologies LLC now owns 70,440 shares of the exchange traded fund’s stock valued at $954,000 after acquiring an additional 44,326 shares during the period. Finally, Balefire LLC purchased a new position in shares of ProShares UltraShort QQQ in the 2nd quarter valued at $387,000.

ProShares UltraShort QQQ Stock Up 1.6%

NYSEARCA:QID traded up $0.23 during mid-day trading on Monday, reaching $14.56. The company’s stock had a trading volume of 40,475,273 shares, compared to its average volume of 24,190,225. ProShares UltraShort QQQ has a 1 year low of $13.39 and a 1 year high of $24.52. The stock has a fifty day moving average of $14.50 and a 200-day moving average of $16.52.

About ProShares UltraShort QQQ

ProShares UltraShort QQQ (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.