Short Interest in ProShares UltraShort QQQ (NYSEARCA:QID) Rises By 86.4%

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a significant growth in short interest during the month of March. As of March 31st, there was short interest totaling 1,529,148 shares, a growth of 86.4% from the March 15th total of 820,271 shares. Based on an average daily volume of 21,886,703 shares, the days-to-cover ratio is currently 0.1 days. Approximately 10.6% of the company’s shares are short sold.

ProShares UltraShort QQQ Price Performance

Shares of QID stock traded down $0.70 during mid-day trading on Tuesday, hitting $19.11. 17,052,289 shares of the company’s stock were exchanged, compared to its average volume of 25,697,283. ProShares UltraShort QQQ has a fifty-two week low of $18.87 and a fifty-two week high of $42.43. The stock has a 50-day simple moving average of $21.24 and a two-hundred day simple moving average of $20.68.

ProShares UltraShort QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were issued a dividend of $0.1471 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.59 annualized dividend and a dividend yield of 3.1%.

Institutional Inflows and Outflows

Several large investors have recently made changes to their positions in QID. Squarepoint Ops LLC raised its position in shares of ProShares UltraShort QQQ by 137.3% in the 2nd quarter. Squarepoint Ops LLC now owns 61,515 shares of the exchange traded fund’s stock worth $1,558,000 after buying an additional 35,595 shares during the period. Group One Trading LLC raised its position in shares of ProShares UltraShort QQQ by 1,051.2% in the 2nd quarter. Group One Trading LLC now owns 55,604 shares of the exchange traded fund’s stock worth $1,408,000 after buying an additional 50,774 shares during the period. Two Sigma Securities LLC raised its position in shares of ProShares UltraShort QQQ by 87.0% in the 2nd quarter. Two Sigma Securities LLC now owns 17,370 shares of the exchange traded fund’s stock worth $440,000 after buying an additional 8,082 shares during the period. Captrust Financial Advisors raised its position in shares of ProShares UltraShort QQQ by 15.5% in the 2nd quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock worth $232,000 after buying an additional 1,228 shares during the period. Finally, Tower Research Capital LLC TRC raised its position in shares of ProShares UltraShort QQQ by 30.2% in the 2nd quarter. Tower Research Capital LLC TRC now owns 20,717 shares of the exchange traded fund’s stock worth $525,000 after buying an additional 4,803 shares during the period.

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.