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

ProShares UltraPro QQQ (NASDAQ:TQQQ) saw a significant growth in short interest in the month of March. As of March 13th, there was short interest totaling 29,304,568 shares, a growth 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 presently 0.2 days. Approximately 5.5% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares UltraPro QQQ

Several institutional investors have recently made changes to their positions in TQQQ. Paragon Advisors LLC lifted its stake in 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 valued at $7,726,000 after buying an additional 74,933 shares during the last quarter. MFG Wealth Management Inc. grew its position 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 worth $3,556,000 after acquiring an additional 33,442 shares during the last quarter. Diversified Trust Co. grew its position in shares of ProShares UltraPro QQQ by 100.0% during the fourth quarter. Diversified Trust Co. now owns 110,000 shares of the exchange traded fund’s stock worth $5,799,000 after acquiring an additional 55,000 shares during the last quarter. Advyzon Investment Management LLC increased its holdings in shares of ProShares UltraPro QQQ by 145.6% in the 3rd quarter. Advyzon Investment Management LLC now owns 45,678 shares of the exchange traded fund’s stock worth $4,723,000 after acquiring an additional 27,081 shares during the period. Finally, Wealth Enhancement Advisory Services LLC lifted 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 purchasing an additional 68,013 shares during the last quarter.

ProShares UltraPro QQQ Stock Performance

NASDAQ TQQQ opened at $38.78 on Monday. ProShares UltraPro QQQ has a one year low of $17.50 and a one year high of $60.69. The company has a 50-day simple moving average of $49.50 and a 200-day simple moving average of $51.98. The firm has a market capitalization of $20.82 billion, a PE ratio of 38.25 and a beta of 3.46.

ProShares UltraPro QQQ Cuts Dividend

The firm 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 $0.0716 dividend. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.29 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.