ProShares Ultra QQQ (NYSEARCA:QLD) Reaches New 12-Month High – Still a Buy?

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

ProShares Ultra QQQ Trading Down 0.5 %

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

Hedge Funds Weigh In On ProShares Ultra QQQ

Hedge funds and other institutional investors have recently made changes to their positions in the company. Discipline Wealth Solutions LLC acquired a new stake in ProShares Ultra QQQ during the 3rd quarter valued at $607,000. Virtue Capital Management LLC acquired a new stake in ProShares Ultra QQQ during the 3rd quarter valued at $663,000. Legacy Investment Solutions LLC acquired a new stake in ProShares Ultra QQQ during the 3rd quarter valued at $1,347,000. Safe Harbor Fiduciary LLC acquired a new stake in ProShares Ultra QQQ during the 3rd quarter valued at $233,000. Finally, HighTower Advisors LLC boosted its position in shares of ProShares Ultra QQQ by 0.5% in the third quarter. HighTower Advisors LLC now owns 57,722 shares of the company’s stock valued at $5,812,000 after acquiring an additional 262 shares during the period.

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.