ProShares UltraPro QQQ (NASDAQ:TQQQ) Sees Large Decline in Short Interest

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the recipient of a significant decline in short interest during the month of December. As of December 15th, there was short interest totalling 17,470,000 shares, a decline of 37.1% from the November 30th total of 27,770,000 shares. Based on an average trading volume of 42,596,200 shares, the days-to-cover ratio is presently 0.4 days.

ProShares UltraPro QQQ Stock Performance

TQQQ stock traded down $3.59 during trading hours on Friday, hitting $84.66. The company’s stock had a trading volume of 50,890,754 shares, compared to its average volume of 57,877,527. The stock has a 50 day moving average price of $80.69 and a two-hundred day moving average price of $73.83. ProShares UltraPro QQQ has a 12 month low of $45.47 and a 12 month high of $93.79.

ProShares UltraPro QQQ Increases Dividend

The firm also recently announced a dividend, which will be paid on Tuesday, December 31st. Shareholders of record on Monday, December 23rd will be given a dividend of $0.2754 per share. This is an increase from ProShares UltraPro QQQ’s previous dividend of $0.23. The ex-dividend date is Monday, December 23rd.

Institutional Trading of ProShares UltraPro QQQ

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Oriental Harbor Investment Fund acquired a new position in shares of ProShares UltraPro QQQ during the 3rd quarter valued at about $82,199,000. Paragon Advisors LLC grew its holdings in ProShares UltraPro QQQ by 22.9% during the third quarter. Paragon Advisors LLC now owns 741,671 shares of the exchange traded fund’s stock valued at $53,764,000 after purchasing an additional 138,343 shares during the last quarter. IMC Chicago LLC raised its position in shares of ProShares UltraPro QQQ by 1,145.4% in the third quarter. IMC Chicago LLC now owns 560,847 shares of the exchange traded fund’s stock valued at $40,656,000 after purchasing an additional 515,815 shares during the period. Howard Capital Management Inc. lifted its stake in shares of ProShares UltraPro QQQ by 7.1% in the second quarter. Howard Capital Management Inc. now owns 378,154 shares of the exchange traded fund’s stock worth $27,929,000 after buying an additional 25,087 shares during the last quarter. Finally, BNP Paribas Financial Markets bought a new stake in shares of ProShares UltraPro QQQ during the 3rd quarter worth $21,747,000.

ProShares UltraPro QQQ Company Profile

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.