ProShares Ultra QQQ (NYSEARCA:QLD) Hits New 52-Week High – Here’s Why

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) reached a new 52-week high during trading on Tuesday . The stock traded as high as $111.33 and last traded at $111.27, with a volume of 1587686 shares trading hands. The stock had previously closed at $110.57.

ProShares Ultra QQQ Price Performance

The company’s 50-day moving average is $104.17 and its two-hundred day moving average is $98.70. The firm has a market cap of $7.76 billion, a P/E ratio of 25.00 and a beta of 2.55.

Institutional Investors Weigh In On ProShares Ultra QQQ

Several institutional investors and hedge funds have recently bought and sold shares of QLD. Oliver Lagore Vanvalin Investment Group lifted its holdings in shares of ProShares Ultra QQQ by 36.5% in the second quarter. Oliver Lagore Vanvalin Investment Group now owns 1,144 shares of the company’s stock worth $114,000 after acquiring an additional 306 shares during the last quarter. WealthShield Partners LLC bought a new position in shares of ProShares Ultra QQQ in the second quarter worth about $152,000. CWM LLC bought a new position in shares of ProShares Ultra QQQ in the second quarter worth about $163,000. Tradition Wealth Management LLC bought a new position in shares of ProShares Ultra QQQ in the third quarter worth about $207,000. Finally, Commonwealth Equity Services LLC bought a new position in shares of ProShares Ultra QQQ in the second quarter worth about $217,000.

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.