Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Drops By 37.1%

ProShares UltraPro QQQ (NASDAQ:TQQQ) was the target of a significant decline in short interest in December. As of December 15th, there was short interest totalling 17,470,000 shares, a decline of 37.1% from the November 30th total of 27,770,000 shares. Based on an average daily trading volume, of 42,596,200 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. JPMorgan Chase & Co. boosted its position in shares of ProShares UltraPro QQQ by 55.3% during the third quarter. JPMorgan Chase & Co. now owns 16,951 shares of the exchange traded fund’s stock valued at $1,229,000 after purchasing an additional 6,039 shares in the last quarter. Oriental Harbor Investment Fund bought a new stake in shares of ProShares UltraPro QQQ during the 3rd quarter valued at $82,199,000. Tidal Investments LLC purchased a new stake in shares of ProShares UltraPro QQQ in the 3rd quarter worth about $11,598,000. World Investment Advisors LLC increased its stake in shares of ProShares UltraPro QQQ by 11.8% in the 3rd quarter. World Investment Advisors LLC now owns 15,987 shares of the exchange traded fund’s stock worth $1,159,000 after acquiring an additional 1,684 shares in the last quarter. Finally, Discipline Wealth Solutions LLC purchased a new position in ProShares UltraPro QQQ during the 3rd quarter valued at about $1,698,000.

ProShares UltraPro QQQ Price Performance

Shares of NASDAQ:TQQQ traded down $3.59 during trading on Friday, reaching $84.66. The company had a trading volume of 50,890,754 shares, compared to its average volume of 57,877,527. The company has a fifty day moving average of $80.69 and a two-hundred day moving average of $73.80. ProShares UltraPro QQQ has a 12 month low of $45.47 and a 12 month high of $93.79.

ProShares UltraPro QQQ Increases Dividend

The business also recently announced a dividend, which will be paid on Tuesday, December 31st. Stockholders of record on Monday, December 23rd will be paid a $0.2754 dividend. The ex-dividend date of this dividend is Monday, December 23rd. This is a positive change from ProShares UltraPro QQQ’s previous dividend of $0.23.

About ProShares UltraPro QQQ

Proshares UltraPro QQQ ETF (the Fund) seeks daily investment results, before fees and expenses that correspond to triple (300%) the daily performance of the NASDAQ-100 Index (the Index). The Fund invests in equity securities, derivatives, such as futures contracts, swap agreements, and money market instruments.