ProShares UltraPro QQQ (NASDAQ:TQQQ) Short Interest Down 41.8% in April

ProShares UltraPro QQQ (NASDAQ:TQQQ - Get Free Report) was the target of a significant drop in short interest during the month of April. As of April 15th, there was short interest totalling 22,010,000 shares, a drop of 41.8% from the March 31st total of 37,820,000 shares. Approximately 5.3% of the company's shares are short sold. Based on an average daily volume of 103,716,500 shares, the days-to-cover ratio is presently 0.2 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in TQQQ. PayPay Securities Corp increased its holdings in ProShares UltraPro QQQ by 119.3% during the fourth quarter. PayPay Securities Corp now owns 500 shares of the exchange traded fund's stock valued at $40,000 after buying an additional 272 shares during the period. Cary Street Partners Financial LLC bought a new stake in ProShares UltraPro QQQ during the fourth quarter valued at about $47,000. Columbia River Financial Group LLC purchased a new position in ProShares UltraPro QQQ in the first quarter valued at about $47,000. Clear Investment Research LLC raised its holdings in ProShares UltraPro QQQ by 83.3% in the fourth quarter. Clear Investment Research LLC now owns 1,054 shares of the exchange traded fund's stock worth $83,000 after purchasing an additional 479 shares in the last quarter. Finally, Wolff Wiese Magana LLC purchased a new stake in shares of ProShares UltraPro QQQ during the first quarter valued at about $94,000.

ProShares UltraPro QQQ Price Performance

Shares of NASDAQ:TQQQ traded up $2.66 during trading on Friday, reaching $59.43. 97,199,136 shares of the company were exchanged, compared to its average volume of 64,845,380. The business's fifty day simple moving average is $56.75 and its 200-day simple moving average is $73.02. The firm has a market capitalization of $23.01 billion, a PE ratio of 27.46 and a beta of 3.45. ProShares UltraPro QQQ has a 12-month low of $35.00 and a 12-month high of $93.79.

ProShares UltraPro QQQ Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, April 1st. Investors of record on Wednesday, March 26th were paid a $0.1977 dividend. This represents a $0.79 dividend on an annualized basis and a yield of 1.33%. The ex-dividend date of this dividend was Wednesday, March 26th.

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.