ProShares Ultra QQQ (NYSEARCA:QLD) Sees Strong Trading Volume – Time to Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) saw unusually-high trading volume on Monday . Approximately 9,174,550 shares traded hands during mid-day trading, an increase of 154% from the previous session’s volume of 3,616,424 shares.The stock last traded at $95.20 and had previously closed at $93.19.

ProShares Ultra QQQ Price Performance

The firm has a market capitalization of $5.95 billion, a PE ratio of 28.84 and a beta of 2.28. The business’s 50 day moving average is $108.07 and its two-hundred day moving average is $105.81.

Hedge Funds Weigh In On ProShares Ultra QQQ

Several institutional investors have recently modified their holdings of the company. Aptus Capital Advisors LLC purchased a new position in ProShares Ultra QQQ in the 4th quarter worth $33,000. Compass Planning Associates Inc purchased a new position in shares of ProShares Ultra QQQ in the fourth quarter worth about $40,000. Financial Life Planners bought a new stake in shares of ProShares Ultra QQQ in the 4th quarter valued at about $51,000. Cape Investment Advisory Inc. bought a new stake in shares of ProShares Ultra QQQ in the 4th quarter valued at about $54,000. Finally, IFP Advisors Inc boosted its holdings in ProShares Ultra QQQ by 226.1% during the 4th quarter. IFP Advisors Inc now owns 499 shares of the company’s stock valued at $54,000 after acquiring an additional 346 shares during the period.

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.