ProShares Ultra QQQ (NYSEARCA:QLD) Reaches New 1-Year High – Still a Buy?

Shares of ProShares Ultra QQQ (NYSEARCA:QLD) reached a new 52-week high on Wednesday . The company traded as high as $115.70 and last traded at $115.66, with a volume of 587690 shares trading hands. The stock had previously closed at $112.65.

ProShares Ultra QQQ Trading Up 3.5 %

The stock has a fifty day moving average of $105.26 and a two-hundred day moving average of $99.40. The stock has a market capitalization of $7.98 billion, a price-to-earnings ratio of 25.00 and a beta of 2.55.

Institutional Investors Weigh In On ProShares Ultra QQQ

Hedge funds and other institutional investors have recently bought and sold shares of the business. Discipline Wealth Solutions LLC acquired a new stake in shares of ProShares Ultra QQQ in the 3rd quarter valued at $607,000. Virtue Capital Management LLC acquired a new stake in shares of ProShares Ultra QQQ in the 3rd quarter valued at $663,000. Legacy Investment Solutions LLC acquired a new stake in shares of ProShares Ultra QQQ in the 3rd quarter valued at $1,347,000. Safe Harbor Fiduciary LLC acquired a new stake in shares of ProShares Ultra QQQ in the 3rd quarter valued at $233,000. Finally, HighTower Advisors LLC increased its stake in shares of 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 period.

ProShares Ultra QQQ Company Profile

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.