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

ProShares Ultra QQQ (NYSEARCA:QLD)’s share price gapped up prior to trading on Friday . The stock had previously closed at $108.61, but opened at $112.74. ProShares Ultra QQQ shares last traded at $111.82, with a volume of 807,778 shares.

ProShares Ultra QQQ Price Performance

The company has a 50-day moving average of $110.57 and a two-hundred day moving average of $102.27. The company has a market capitalization of $7.68 billion, a PE ratio of 25.00 and a beta of 2.55.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in QLD. Dale Q Rice Investment Management Ltd bought a new stake in ProShares Ultra QQQ during the fourth quarter valued at about $24,535,000. IMC Chicago LLC purchased a new position in ProShares Ultra QQQ in the 3rd quarter worth approximately $14,490,000. Axxcess Wealth Management LLC bought a new position in ProShares Ultra QQQ in the 3rd quarter worth approximately $10,032,000. First National Corp MA ADV grew its holdings in ProShares Ultra QQQ by 1,039.1% during the 3rd quarter. First National Corp MA ADV now owns 87,014 shares of the company’s stock valued at $8,762,000 after buying an additional 79,375 shares in the last quarter. Finally, Client First Investment Management LLC bought a new stake in shares of ProShares Ultra QQQ during the second quarter valued at approximately $4,888,000.

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.