Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Expands By 28.6%

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the recipient of a large increase in short interest during the month of March. As of March 13th, there was short interest totaling 29,304,568 shares, an increase of 28.6% from the February 26th total of 22,781,505 shares. Based on an average daily volume of 126,402,430 shares, the short-interest ratio is currently 0.2 days. Approximately 5.5% of the shares of the company are short sold.

Institutional Trading of ProShares UltraPro QQQ

Hedge funds have recently added to or reduced their stakes in the business. Paragon Advisors LLC grew its stake in shares of ProShares UltraPro QQQ by 104.6% in the fourth quarter. Paragon Advisors LLC now owns 146,543 shares of the exchange traded fund’s stock worth $7,726,000 after purchasing an additional 74,933 shares in the last quarter. MFG Wealth Management Inc. raised its stake in shares of ProShares UltraPro QQQ by 98.3% during the fourth quarter. MFG Wealth Management Inc. now owns 67,453 shares of the exchange traded fund’s stock valued at $3,556,000 after purchasing an additional 33,442 shares in the last quarter. Diversified Trust Co. lifted its holdings in ProShares UltraPro QQQ by 100.0% in the fourth quarter. Diversified Trust Co. now owns 110,000 shares of the exchange traded fund’s stock worth $5,799,000 after purchasing an additional 55,000 shares during the period. Advyzon Investment Management LLC lifted its holdings in ProShares UltraPro QQQ by 145.6% in the third quarter. Advyzon Investment Management LLC now owns 45,678 shares of the exchange traded fund’s stock worth $4,723,000 after purchasing an additional 27,081 shares during the period. Finally, Wealth Enhancement Advisory Services LLC grew its position in ProShares UltraPro QQQ by 101.1% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 135,309 shares of the exchange traded fund’s stock valued at $7,443,000 after buying an additional 68,013 shares in the last quarter.

ProShares UltraPro QQQ Stock Performance

Shares of NASDAQ:TQQQ opened at $38.78 on Monday. The firm’s 50 day moving average is $49.50 and its two-hundred day moving average is $51.98. The firm has a market capitalization of $20.82 billion, a P/E ratio of 38.25 and a beta of 3.46. ProShares UltraPro QQQ has a 52 week low of $17.50 and a 52 week high of $60.69.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be issued a $0.0716 dividend. This represents a $0.29 dividend on an annualized basis and a yield of 0.7%. The ex-dividend date of this dividend is Wednesday, March 25th.

About ProShares UltraPro QQQ

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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.