ProShares UltraPro QQQ (NASDAQ:TQQQ) Sees Large Decrease in Short Interest

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the target of a large drop in short interest during the month of February. As of February 27th, there was short interest totaling 22,781,505 shares, a drop of 26.0% from the February 12th total of 30,780,088 shares. Approximately 4.2% of the shares of the company are short sold. Based on an average daily volume of 81,434,514 shares, the short-interest ratio is currently 0.3 days. Based on an average daily volume of 81,434,514 shares, the short-interest ratio is currently 0.3 days. Approximately 4.2% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several hedge funds and other institutional investors have recently modified their holdings of TQQQ. WFA of San Diego LLC acquired a new stake in shares of ProShares UltraPro QQQ in the 2nd quarter worth about $25,000. BOKF NA acquired a new position in ProShares UltraPro QQQ during the 3rd quarter valued at about $31,000. N.E.W. Advisory Services LLC acquired a new position in ProShares UltraPro QQQ during the 2nd quarter valued at about $30,000. Halbert Hargrove Global Advisors LLC bought a new position in ProShares UltraPro QQQ in the 3rd quarter worth about $44,000. Finally, Edmond DE Rothschild Holding S.A. bought a new position in ProShares UltraPro QQQ in the 2nd quarter worth about $42,000.

ProShares UltraPro QQQ Price Performance

NASDAQ:TQQQ opened at $45.93 on Monday. ProShares UltraPro QQQ has a 12-month low of $17.50 and a 12-month high of $60.69. The firm has a market capitalization of $24.65 billion, a P/E ratio of 38.25 and a beta of 3.46. The business has a 50 day simple moving average of $51.59 and a 200 day simple moving average of $52.07.

ProShares UltraPro QQQ Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, December 31st. Shareholders of record on Wednesday, December 24th were paid a $0.0855 dividend. The ex-dividend date was Wednesday, December 24th. This is a positive change from ProShares UltraPro QQQ’s previous quarterly dividend of $0.05. This represents a $0.34 dividend on an annualized basis and a yield of 0.7%.

ProShares UltraPro QQQ Company Profile

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.