Short Interest in ProShares UltraPro QQQ (NASDAQ:TQQQ) Decreases By 14.0%

Key Points

• Short interest fell 14.0% in April, declining to 26,909,349 shares from 31,272,744 on March 31, with a short-interest ratio of 0.3 days and about 5.0% of shares sold short.
• Institutional buying has picked up, most notably Goldman Sachs which increased its stake by 4,237% to 520,444 shares (~$29.8M), while several other firms also raised positions.
• TQQQ is a 3x leveraged ETF that seeks 300% of the NASDAQ‑100’s daily return; it opened at $63.54, sits near its 52‑week high of $63.80, has a $31.54B market cap and a beta of 3.53, indicating elevated volatility.

ProShares UltraPro QQQ (NASDAQ:TQQQ - ) was the target of a significant decrease in short interest in the month of April. As of April 15th, there was short interest totaling 26,909,349 shares, a decrease of 14.0% from the March 31st total of 31,272,744 shares. Based on an average daily trading volume, of 88,818,133 shares, the short-interest ratio is presently 0.3 days. Currently, 5.0% of the shares of the company are sold short.

Institutional Investors Weigh In On ProShares UltraPro QQQ

Hedge funds have recently made changes to their positions in the business. Integrated Wealth Concepts LLC raised its holdings in ProShares UltraPro QQQ by 19.2% during the first quarter. Integrated Wealth Concepts LLC now owns 4,971 shares of the exchange traded fund's stock worth $285,000 after purchasing an additional 799 shares in the last quarter. Goldman Sachs Group Inc. raised its holdings in ProShares UltraPro QQQ by 4,237.0% during the first quarter. Goldman Sachs Group Inc. now owns 520,444 shares of the exchange traded fund's stock worth $29,821,000 after purchasing an additional 508,444 shares in the last quarter. Focus Partners Wealth raised its holdings in ProShares UltraPro QQQ by 30.8% during the first quarter. Focus Partners Wealth now owns 10,954 shares of the exchange traded fund's stock worth $628,000 after purchasing an additional 2,578 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in ProShares UltraPro QQQ by 11.4% during the second quarter. JPMorgan Chase & Co. now owns 19,570 shares of the exchange traded fund's stock worth $1,624,000 after purchasing an additional 2,002 shares in the last quarter. Finally, Cerity Partners LLC raised its holdings in ProShares UltraPro QQQ by 11.4% during the second quarter. Cerity Partners LLC now owns 30,865 shares of the exchange traded fund's stock worth $2,562,000 after purchasing an additional 3,158 shares in the last quarter.

ProShares UltraPro QQQ Stock Performance

Shares of TQQQ opened at $63.54 on Friday. ProShares UltraPro QQQ has a fifty-two week low of $27.54 and a fifty-two week high of $63.80. The company has a market capitalization of $31.54 billion, a price-to-earnings ratio of 38.25 and a beta of 3.53. The firm has a 50-day simple moving average of $49.87 and a 200-day simple moving average of $52.22.

ProShares UltraPro QQQ Company Profile

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. ProShare Advisors LLC (ProShare Advisors) provides the investment advisory and management services for the Fund.

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