Investors Buy Large Volume of ProShares Ultra QQQ Put Options (NYSEARCA:QLD)

ProShares Ultra QQQ (NYSEARCA:QLD) saw some unusual options trading activity on Wednesday. Traders acquired 6,021 put options on the stock. This represents an increase of approximately 209% compared to the typical volume of 1,949 put options.

ProShares Ultra QQQ Stock Performance

NYSEARCA QLD opened at $70.41 on Friday. The company has a market capitalization of $10.39 billion, a PE ratio of 31.03 and a beta of 2.31. ProShares Ultra QQQ has a 52-week low of $32.36 and a 52-week high of $76.67. The company has a 50-day simple moving average of $71.41 and a 200 day simple moving average of $66.04.

Institutional Investors Weigh In On ProShares Ultra QQQ

A number of hedge funds have recently modified their holdings of the stock. Norden Group LLC raised its stake in shares of ProShares Ultra QQQ by 32.7% in the second quarter. Norden Group LLC now owns 3,006 shares of the company’s stock valued at $354,000 after buying an additional 741 shares during the period. Wealth Enhancement Advisory Services LLC purchased a new stake in ProShares Ultra QQQ in the 2nd quarter worth about $369,000. Accurate Wealth Management LLC bought a new stake in ProShares Ultra QQQ in the 2nd quarter valued at about $260,000. GenWealth Group Inc. raised its stake in ProShares Ultra QQQ by 23.1% in the 2nd quarter. GenWealth Group Inc. now owns 79,730 shares of the company’s stock valued at $9,385,000 after acquiring an additional 14,967 shares during the period. Finally, MassMutual Private Wealth & Trust FSB lifted its holdings in ProShares Ultra QQQ by 38.1% during the second quarter. MassMutual Private Wealth & Trust FSB now owns 949 shares of the company’s stock valued at $112,000 after purchasing an additional 262 shares during the last quarter.

ProShares Ultra QQQ Company Profile

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. The Index is calculated under a modified capitalization-weighted methodology.