ProShares Ultra QQQ (NYSEARCA:QLD) Sees Strong Trading Volume – Here’s Why

ProShares Ultra QQQ (NYSEARCA:QLD) shares saw an uptick in trading volume on Tuesday . 2,522,890 shares traded hands during mid-day trading, a decline of 23% from the previous session’s volume of 3,287,438 shares.The stock last traded at $77.65 and had previously closed at $72.02.

ProShares Ultra QQQ Stock Performance

The company has a 50 day simple moving average of $102.07 and a 200 day simple moving average of $105.49. The company has a market capitalization of $5.27 billion, a PE ratio of 27.52 and a beta of 2.36.

ProShares Ultra QQQ Cuts Dividend

The company also recently disclosed a dividend, which was paid on Tuesday, April 1st. Shareholders of record on Wednesday, March 26th were issued a $0.0256 dividend. The ex-dividend date of this dividend was Wednesday, March 26th.

Institutional Investors Weigh In On ProShares Ultra QQQ

Large investors have recently made changes to their positions in the stock. Aptus Capital Advisors LLC purchased a new position in ProShares Ultra QQQ during the fourth quarter worth about $33,000. Compass Planning Associates Inc purchased a new stake in shares of ProShares Ultra QQQ during the 4th quarter valued at approximately $40,000. Financial Life Planners acquired a new position in ProShares Ultra QQQ in the fourth quarter valued at approximately $51,000. Cape Investment Advisory Inc. acquired a new position in ProShares Ultra QQQ in the fourth quarter valued at approximately $54,000. Finally, IFP Advisors Inc grew its position in ProShares Ultra QQQ by 226.1% in the fourth quarter. IFP Advisors Inc now owns 499 shares of the company’s stock worth $54,000 after acquiring an additional 346 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.