ProShares Ultra QQQ (NYSEARCA:QLD) Sees Unusually-High Trading Volume – Should You Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) shares saw unusually-high trading volume on Monday . Approximately 6,203,280 shares were traded during mid-day trading, an increase of 94% from the previous session’s volume of 3,200,054 shares.The stock last traded at $86.13 and had previously closed at $88.94.

ProShares Ultra QQQ Price Performance

The company has a 50 day moving average price of $105.80 and a 200 day moving average price of $106.03. The firm has a market cap of $6.35 billion, a PE ratio of 27.52 and a beta of 2.36.

ProShares Ultra QQQ Cuts Dividend

The business also recently disclosed a dividend, which will be paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th will be issued a dividend of $0.0256 per share. The ex-dividend date of this dividend is Wednesday, March 26th.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in the company. Tradition Wealth Management LLC purchased a new position in shares of ProShares Ultra QQQ in the 3rd quarter valued at $207,000. HighTower Advisors LLC raised its holdings in shares of ProShares Ultra QQQ by 0.5% during the third quarter. HighTower Advisors LLC now owns 57,722 shares of the company’s stock valued at $5,812,000 after buying an additional 262 shares during the last quarter. Safe Harbor Fiduciary LLC acquired a new stake in shares of ProShares Ultra QQQ in the 3rd quarter worth approximately $233,000. Legacy Investment Solutions LLC bought a new stake in ProShares Ultra QQQ in the third quarter worth about $1,347,000. Finally, Virtue Capital Management LLC bought a new position in shares of ProShares Ultra QQQ in the third quarter valued at $663,000.

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.