26-Apr-2024
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ProShares Announces ETF Share Splits
Business Wire (Wed, 20-Mar 5:00 PM ET)
ProShares UltraShort QQQ seeks daily investment results before fees and expenses that correspond to twice (200%) the inverse (opposite) of the daily performance of the NASDAQ-100 Index .
ProShares Ultrashort QQQ trades on the ARCA stock market under the symbol QID.
As of April 26, 2024, QID stock price declined to $47.70 with 5,142,740 million shares trading.
QID has a beta of -2.51, meaning it tends to be less sensitive to market movements. QID has a correlation of 0.84 to the broad based SPY ETF.
QID has a market cap of $321.92 million. This is considered a Small Cap stock.
In the last 3 years, QID stock traded as high as $149.90 and as low as $43.60.
QID has underperformed the market in the last year with a return of -45.4%, while the SPY ETF gained +27.4%. In the last 3 month period, QID fell short of the market, returning -2.5%, while SPY returned +4.6%. However, in the most recent 2 weeks QID has outperformed the stock market by returning +3.5%, while SPY returned -0.5%.
QID support price is $47.94 and resistance is $50.52 (based on 1 day standard deviation move). This means that using the most recent 20 day stock volatility and applying a one standard deviation move around the stock's closing price, stastically there is a 67% probability that QID stock will trade within this expected range on the day.