ProShares Ultra QQQ (NYSEARCA:QLD) Sets New 1-Year High – Time to Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) reached a new 52-week high during trading on Tuesday . The stock traded as high as $111.33 and last traded at $111.27, with a volume of 1587686 shares changing hands. The stock had previously closed at $110.57.

ProShares Ultra QQQ Price Performance

The stock has a market capitalization of $7.61 billion, a PE ratio of 25.00 and a beta of 2.55. The business’s fifty day moving average price is $103.66 and its 200-day moving average price is $98.44.

Institutional Investors Weigh In On ProShares Ultra QQQ

Several hedge funds have recently bought and sold shares of QLD. Aveo Capital Partners LLC lifted its position in ProShares Ultra QQQ by 200.2% during the second quarter. Aveo Capital Partners LLC now owns 255,288 shares of the company’s stock valued at $25,480,000 after purchasing an additional 170,254 shares during the last quarter. IMC Chicago LLC purchased a new position in shares of ProShares Ultra QQQ during the third quarter worth approximately $14,490,000. Axxcess Wealth Management LLC purchased a new position in shares of ProShares Ultra QQQ during the third quarter worth approximately $10,032,000. First National Corp MA ADV raised its stake in shares of ProShares Ultra QQQ by 1,039.1% during the third quarter. First National Corp MA ADV now owns 87,014 shares of the company’s stock worth $8,762,000 after acquiring an additional 79,375 shares in the last quarter. Finally, Client First Investment Management LLC purchased a new position in shares of ProShares Ultra QQQ during the second quarter worth approximately $4,888,000.

ProShares Ultra QQQ Company Profile

ProShares Ultra QQQ (the Fund), formerly Ultra QQQ ProShares, seeks daily investment results that correspond to twice the daily performance of the NASDAQ-100 Index. The NASDAQ-100 Index represents the largest non-financial domestic and international issues listed on The NASDAQ Stock Market. To be eligible for inclusion, companies cannot be in bankruptcy proceedings and must meet certain additional criteria, including minimum trading volume and seasoning requirements.