In today’s session ProShares UltraShort QQQ (ETF) (QID) registered an unusually high (284) contracts volume of call trades. Someone, most probably a professional was a very active buyer of the November, 2016 call, expecting serious QID increase. With 284 contracts traded and 5044 open interest for the Nov, 16 contract, it seems this is a quite bullish bet. The option with symbol: QID161118C00028000 closed last at: $0.39 or 56% up. ProShares UltraShort QQQ (ETF) (NYSEARCA:QID) has declined 12.11% since April 1, 2016 and is downtrending. It has underperformed by 13.32% the S&P500.
ProShares UltraShort QQQ seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index (the Index). The ETF has a market cap of $423.92 million. The NASDAQ-100 Index includes 100 of the largest domestic and international non-financial companies listed on The NASDAQ Stock Market based on market capitalization. It currently has negative earnings. The Index reflects companies across industry groups, including computer hardware and software, telecommunications, retail/wholesale trade and biotechnology.
QID Company Profile
ProShares UltraShort QQQ (the Fund), formerly UltraShort QQQ ProShares, seeks daily investment results that correspond to twice the inverse daily performance of the NASDAQ Index-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.
More notable recent ProShares UltraShort QQQ (ETF) (NYSEARCA:QID) news were published by: Nasdaq.com which released: “Short the Nasdaq with These Inverse ETFs – ETF News And Commentary” on May 05, 2014, also Midasletter.com with their article: “PODCAST: Jim Rogers is Short the NASDAQ Composite via ProShares UltraShort QQQ …” published on February 14, 2016, Etfdailynews.com published: “Extolling The Virtues Of QQQ [PowerShares QQQ Trust, Series 1 (ETF), ProShares …” on November 12, 2014. More interesting news about ProShares UltraShort QQQ (ETF) (NYSEARCA:QID) were released by: Etftrends.com and their article: “Inverse ETFs Step into the Limelight” published on January 07, 2016 as well as Nasdaq.com‘s news article titled: “3 Ways to Short Nasdaq with ETFs” with publication date: February 10, 2016.
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