ProShares UltraShort QQQ (NYSEARCA:QID) Sees Significant Decrease in Short Interest

ProShares UltraShort QQQ (NYSEARCA:QID) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 1,335,295 shares, a decline of 55.2% from the April 15th total of 2,983,000 shares. Based on an average daily trading volume, of 27,569,115 shares, the short-interest ratio is presently 0.0 days. Currently, 8.1% of the shares of the company are sold short.

ProShares UltraShort QQQ Trading Up 3.1%

Shares of NYSEARCA:QID traded up $0.45 on Friday, hitting $15.01. 30,619,103 shares of the company were exchanged, compared to its average volume of 25,706,639. ProShares UltraShort QQQ has a 1-year low of $14.46 and a 1-year high of $30.33. The stock’s 50 day moving average price is $19.49 and its 200 day moving average price is $20.01.

Institutional Investors Weigh In On ProShares UltraShort QQQ

Several institutional investors and hedge funds have recently made changes to their positions in QID. Squarepoint Ops LLC lifted its stake in shares of ProShares UltraShort QQQ by 137.3% during the second 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 holdings in shares of ProShares UltraShort QQQ by 1,051.2% during the second quarter. Group One Trading LLC now owns 55,604 shares of the exchange traded fund’s stock worth $1,408,000 after purchasing an additional 50,774 shares during the last quarter. Two Sigma Securities LLC raised its holdings in shares of ProShares UltraShort QQQ by 87.0% during the second quarter. Two Sigma Securities LLC now owns 17,370 shares of the exchange traded fund’s stock worth $440,000 after purchasing an additional 8,082 shares during the last quarter. Captrust Financial Advisors raised its holdings in shares of ProShares UltraShort QQQ by 15.5% during the second quarter. Captrust Financial Advisors now owns 9,152 shares of the exchange traded fund’s stock worth $232,000 after purchasing an additional 1,228 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its holdings in shares of ProShares UltraShort QQQ by 30.2% during the second quarter. Tower Research Capital LLC TRC now owns 20,717 shares of the exchange traded fund’s stock worth $525,000 after purchasing an additional 4,803 shares during the last quarter.

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.