ProShares UltraShort Top QQQ (NASDAQ:QQDN) Sees Significant Growth in Short Interest

ProShares UltraShort Top QQQ (NASDAQ:QQDN) was the target of a significant growth in short interest in March. As of March 13th, there was short interest totaling 1,008 shares, a growth of 37.7% from the February 26th total of 732 shares. Currently, 2.0% of the shares of the stock are short sold. Based on an average daily volume of 2,976 shares, the short-interest ratio is currently 0.3 days.

ProShares UltraShort Top QQQ Stock Performance

QQDN opened at $34.98 on Tuesday. ProShares UltraShort Top QQQ has a twelve month low of $23.60 and a twelve month high of $41.14. The company has a 50-day moving average price of $29.01 and a 200 day moving average price of $27.17.

ProShares UltraShort Top QQQ Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th will be issued a dividend of $0.1593 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.64 dividend on an annualized basis and a dividend yield of 1.8%.

Institutional Trading of ProShares UltraShort Top QQQ

An institutional investor recently bought a new position in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets bought a new stake in ProShares UltraShort Top QQQ (NASDAQ:QQDN) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned about 90.91% of ProShares UltraShort Top QQQ at the end of the most recent reporting period.

About ProShares UltraShort Top QQQ

ProShares Trust – ProShares UltraShort Top QQQ is an exchange traded fund launched and managed by ProShare Advisors LLC. The fund invests in public equity markets of global region. The fund invests through derivatives in stocks of companies operating across diversified sector. The fund uses derivatives such as swaps to create its portfolio. It invests in growth and value stocks of large-cap companies. It seeks to track -2x the daily performance of the Nasdaq-100 Index, by using full replication technique.