ProShares UltraShort Top QQQ (NASDAQ:QQDN) Short Interest Up 1,985.8% in February

ProShares UltraShort Top QQQ (NASDAQ:QQDN) saw a large growth in short interest during the month of February. As of February 13th, there was short interest totaling 2,211 shares, a growth of 1,985.8% from the January 29th total of 106 shares. Approximately 4.4% of the company’s shares are short sold. Based on an average daily volume of 2,581 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 2,581 shares, the days-to-cover ratio is currently 0.9 days. Approximately 4.4% of the company’s shares are short sold.

ProShares UltraShort Top QQQ Price Performance

QQDN opened at $28.81 on Friday. The firm has a 50 day simple moving average of $26.76 and a 200 day simple moving average of $27.25. ProShares UltraShort Top QQQ has a fifty-two week low of $23.60 and a fifty-two week high of $41.14.

ProShares UltraShort Top QQQ Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were given a dividend of $0.6257 per share. This represents a $2.50 annualized dividend and a dividend yield of 8.7%. The ex-dividend date was Wednesday, December 24th. This is a positive change from ProShares UltraShort Top QQQ’s previous quarterly dividend of $0.25.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Top QQQ stock. BNP Paribas Financial Markets acquired a new stake in shares of ProShares UltraShort Top QQQ (NASDAQ:QQDN) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 100,000 shares of the company’s stock, valued at approximately $3,662,000. BNP Paribas Financial Markets owned 90.91% of ProShares UltraShort Top QQQ as of its most recent filing with the Securities & Exchange Commission.

ProShares UltraShort Top QQQ Company Profile

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.