ProShares Ultra QQQ (NYSEARCA:QLD) Stock Price Down 0.4% – Here’s What Happened

ProShares Ultra QQQ (NYSEARCA:QLD)’s stock price dropped 0.4% on Thursday . The company traded as low as $105.90 and last traded at $107.76. Approximately 4,106,248 shares changed hands during mid-day trading, an increase of 31% from the average daily volume of 3,134,990 shares. The stock had previously closed at $108.24.

ProShares Ultra QQQ Trading Down 0.4 %

The firm has a 50-day moving average price of $109.38 and a 200-day moving average price of $101.70. The company has a market capitalization of $7.37 billion, a price-to-earnings ratio of 25.00 and a beta of 2.55.

Institutional Investors Weigh In On ProShares Ultra QQQ

Several hedge funds have recently modified their holdings of the stock. Oliver Lagore Vanvalin Investment Group boosted its stake in ProShares Ultra QQQ by 36.5% in the 2nd quarter. Oliver Lagore Vanvalin Investment Group now owns 1,144 shares of the company’s stock worth $114,000 after purchasing an additional 306 shares during the period. Tradition Wealth Management LLC purchased a new stake in shares of ProShares Ultra QQQ in the third quarter valued at $207,000. Commonwealth Equity Services LLC acquired a new stake in shares of ProShares Ultra QQQ in the second quarter worth $217,000. Headlands Technologies LLC grew its holdings in shares of ProShares Ultra QQQ by 200.9% during the second quarter. Headlands Technologies LLC now owns 2,227 shares of the company’s stock valued at $222,000 after buying an additional 1,487 shares in the last quarter. Finally, Anchor Investment Management LLC raised its position in ProShares Ultra QQQ by 131.2% during the second quarter. Anchor Investment Management LLC now owns 2,312 shares of the company’s stock valued at $231,000 after buying an additional 1,312 shares during the period.

About ProShares Ultra QQQ

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.