ProShares Ultra QQQ (NYSEARCA:QLD) Sees Large Volume Increase – Still a Buy?

ProShares Ultra QQQ (NYSEARCA:QLD) shares saw an uptick in trading volume on Monday . 9,174,550 shares traded hands 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 Stock Performance

The firm has a market capitalization of $6.13 billion, a price-to-earnings ratio of 28.84 and a beta of 2.28. The firm has a fifty day moving average price of $108.83 and a 200 day moving average price of $105.84.

Institutional Inflows and Outflows

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