ProShares Ultra QQQ (NYSEARCA:QLD) Hits New 1-Year High – Here’s Why

ProShares Ultra QQQ (NYSEARCA:QLD) hit a new 52-week high on Wednesday . The company traded as high as $115.70 and last traded at $115.66, with a volume of 587690 shares. The stock had previously closed at $112.65.

ProShares Ultra QQQ Stock Performance

The company has a fifty day moving average of $105.98 and a two-hundred day moving average of $99.63. The firm has a market capitalization of $8.00 billion, a price-to-earnings ratio of 25.00 and a beta of 2.55.

Institutional Trading of ProShares Ultra QQQ

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Main Street Group LTD increased its holdings in shares of ProShares Ultra QQQ by 0.6% during the second quarter. Main Street Group LTD now owns 452,550 shares of the company’s stock worth $45,721,000 after purchasing an additional 2,810 shares during the period. Clearstead Trust LLC increased its stake in ProShares Ultra QQQ by 1.7% during the 2nd quarter. Clearstead Trust LLC now owns 370,857 shares of the company’s stock worth $37,015,000 after acquiring an additional 6,105 shares during the period. Aveo Capital Partners LLC raised its holdings in ProShares Ultra QQQ by 200.2% in the 2nd quarter. Aveo Capital Partners LLC now owns 255,288 shares of the company’s stock valued at $25,480,000 after acquiring an additional 170,254 shares in the last quarter. IMC Chicago LLC bought a new stake in shares of ProShares Ultra QQQ during the 3rd quarter valued at $14,490,000. Finally, Westwood Wealth Management grew its holdings in shares of ProShares Ultra QQQ by 3.3% during the 2nd quarter. Westwood Wealth Management now owns 129,010 shares of the company’s stock worth $12,876,000 after purchasing an additional 4,090 shares in the last quarter.

About ProShares Ultra QQQ

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.