ProShares Ultra QQQ (NYSEARCA:QLD) Sees Unusually-High Trading Volume – Still a Buy?

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) saw unusually-strong trading volume on Monday . Approximately 9,174,550 shares were traded during 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 stock’s fifty day simple moving average is $108.83 and its two-hundred day simple moving average is $105.84. The company has a market capitalization of $6.13 billion, a price-to-earnings ratio of 28.84 and a beta of 2.28.

Institutional Investors Weigh In On ProShares Ultra QQQ

Several large investors have recently modified their holdings of the stock. IFP Advisors Inc lifted its position in ProShares Ultra QQQ by 226.1% in the 4th quarter. IFP Advisors Inc now owns 499 shares of the company’s stock worth $54,000 after buying an additional 346 shares in the last quarter. Sanctuary Advisors LLC grew its holdings in ProShares Ultra QQQ by 5.3% during the fourth quarter. Sanctuary Advisors LLC now owns 6,034 shares of the company’s stock valued at $678,000 after purchasing an additional 306 shares during the last quarter. Lowery Thomas LLC increased its stake in shares of ProShares Ultra QQQ by 3.0% in the third quarter. Lowery Thomas LLC now owns 3,549 shares of the company’s stock worth $357,000 after purchasing an additional 103 shares during the period. Empirical Financial Services LLC d.b.a. Empirical Wealth Management bought a new stake in ProShares Ultra QQQ during the 4th quarter valued at approximately $214,000. Finally, HighTower Advisors LLC grew its holdings in ProShares Ultra QQQ by 0.5% in the 3rd quarter. HighTower Advisors LLC now owns 57,722 shares of the company’s stock valued at $5,812,000 after buying an additional 262 shares during 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.