ProShares Ultra QQQ (NYSEARCA:QLD) Trading 0.5% Higher – Time to Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) shares rose 0.5% on Wednesday . The stock traded as high as $70.52 and last traded at $69.52. Approximately 4,045,347 shares traded hands during trading, a decline of 30% from the average daily volume of 5,738,713 shares. The stock had previously closed at $69.18.

ProShares Ultra QQQ Stock Performance

The stock has a 50-day simple moving average of $71.42 and a two-hundred day simple moving average of $68.70. The firm has a market cap of $10.34 billion, a PE ratio of 31.03 and a beta of 2.31.

Institutional Inflows and Outflows

Institutional investors have recently bought and sold shares of the company. Norden Group LLC lifted its stake in shares of ProShares Ultra QQQ by 2.5% in the 3rd quarter. Norden Group LLC now owns 3,080 shares of the company’s stock worth $423,000 after purchasing an additional 74 shares during the period. Safe Harbor Fiduciary LLC boosted its position in shares of ProShares Ultra QQQ by 3.5% during the second quarter. Safe Harbor Fiduciary LLC now owns 2,481 shares of the company’s stock worth $292,000 after acquiring an additional 83 shares during the last quarter. Financial Engines Advisors L.L.C. boosted its holdings in shares of ProShares Ultra QQQ by 0.7% during the 3rd quarter. Financial Engines Advisors L.L.C. now owns 16,513 shares of the company’s stock valued at $2,266,000 after purchasing an additional 122 shares during the last quarter. Sowell Financial Services LLC grew its holdings in ProShares Ultra QQQ by 0.7% during the 3rd quarter. Sowell Financial Services LLC now owns 23,861 shares of the company’s stock valued at $3,274,000 after buying an additional 159 shares in the last quarter. Finally, Capital Advisory Group Advisory Services LLC grew its holdings in shares of ProShares Ultra QQQ by 2.6% in the third quarter. Capital Advisory Group Advisory Services LLC now owns 7,285 shares of the company’s stock valued at $1,000,000 after purchasing an additional 185 shares in the last quarter.

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