ProShares Ultra QQQ Sees $392 Million Inflow, Boosting Units by 7.2%

Today, in the realm of exchange-traded funds (ETFs), the ProShares Ultra QQQ (Symbol: QLD) has emerged as a significant player, experiencing an influx of approximately $392.3 million. This translates to a substantial 7.2% increase in shares outstanding, rising from 66,050,000 to 70,800,000 week over week. Among the ETF’s largest components, Netflix Inc (Symbol: NFLX) has risen by around 5.3%, while Vertex Pharmaceuticals, Inc. (Symbol: VRTX) is up approximately 0.8%. MercadoLibre Inc (Symbol: MELI) has also made gains, climbing around 2.4%. For a complete list of holdings, visit the QLD Holdings page »

The chart below illustrates QLD’s price performance over the past year, in relation to its 200-day moving average:

According to the chart, QLD’s 52-week low stands at $64.72 per share, with a high of $120.6799. The last recorded trade for QLD was at $82.63. Comparing this share price to the 200-day moving average can offer valuable insights for technical analysis—learn more about the 200-day moving average ».

ETFs operate similarly to stocks, but investors trade in “units” rather than traditional shares. These units can be exchanged just like stocks but are also subject to creation or redemption based on investor demand. Each week, we monitor changes in outstanding shares to identify ETFs that experience notable inflows—indicating new units created—or outflows, meaning existing units have been destroyed. When new units are created, it necessitates the purchase of the ETF’s underlying assets. Conversely, when units are destroyed, it leads to the selling of underlying assets, potentially affecting the ETF’s individual components.

Click here to find out which 9 other ETFs had notable inflows »

Also see:

• Top Ten Hedge Funds Holding XTAP
• NVRO Market Cap History
• LIFE Insider Buying

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.