ProShares Ultra QQQ (NYSEARCA:QLD) Shares Up 16% – Here’s Why

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) rose 16% during trading on Wednesday . The company traded as high as $78.88 and last traded at $80.43. Approximately 7,241,856 shares traded hands during mid-day trading, an increase of 116% from the average daily volume of 3,345,077 shares. The stock had previously closed at $69.34.

ProShares Ultra QQQ Stock Performance

The company has a market cap of $5.93 billion, a P/E ratio of 27.52 and a beta of 2.36. The business’s 50-day moving average price is $98.68 and its 200 day moving average price is $104.66.

ProShares Ultra QQQ Cuts Dividend

The firm also recently declared a dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were issued a dividend of $0.0256 per share. The ex-dividend date was Wednesday, March 26th.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in QLD. Virtue Capital Management LLC bought a new stake in shares of ProShares Ultra QQQ during the 3rd quarter worth about $663,000. Silverleafe Capital Partners LLC lifted its position in ProShares Ultra QQQ by 44.9% during the fourth quarter. Silverleafe Capital Partners LLC now owns 3,452 shares of the company’s stock worth $374,000 after acquiring an additional 1,070 shares during the last quarter. Innova Wealth Partners bought a new stake in shares of ProShares Ultra QQQ during the fourth quarter worth approximately $885,000. Miracle Mile Advisors LLC boosted its holdings in shares of ProShares Ultra QQQ by 0.7% during the fourth quarter. Miracle Mile Advisors LLC now owns 48,080 shares of the company’s stock worth $5,204,000 after acquiring an additional 350 shares during the period. Finally, Dale Q Rice Investment Management Ltd acquired a new position in shares of ProShares Ultra QQQ in the fourth quarter valued at approximately $24,535,000.

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.