27-Mar-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 March 27, 2024, QID stock price declined to $8.92 with 13,098,903 million shares trading.
QID has a beta of -2.40, meaning it tends to be less sensitive to market movements. QID has a correlation of 0.82 to the broad based SPY ETF.
QID has a market cap of $250.17 million. This is considered a Small Cap stock.
In the last 3 years, QID stock traded as high as $29.98 and as low as $8.72.
QID has underperformed the market in the last year with a price return of -48.8% while the SPY ETF gained +33.9%. QID has also underperformed the stock market ETF in the last 3 month and 2 week periods returning -13.8% and -0.2%, respectively, while the SPY returned +10.3% and +1.5%, respectively.
QID support price is $8.81 and resistance is $9.15 (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.