ProShares Ultra Communication Services (NYSEARCA:LTL) Short Interest Down 75.6% in May

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 2,812 shares, a decrease of 75.6% from the April 30th total of 11,506 shares. Approximately 0.9% of the company’s stock are short sold. Based on an average daily trading volume, of 2,689 shares, the days-to-cover ratio is presently 1.0 days.

Institutional Trading of ProShares Ultra Communication Services

A number of large investors have recently modified their holdings of LTL. IMC Chicago LLC lifted its position in ProShares Ultra Communication Services by 100.0% in the 3rd quarter. IMC Chicago LLC now owns 42,391 shares of the exchange traded fund’s stock worth $4,950,000 after buying an additional 21,191 shares during the last quarter. Citadel Advisors LLC bought a new stake in ProShares Ultra Communication Services in the 3rd quarter worth approximately $347,000. Susquehanna International Group LLP lifted its position in ProShares Ultra Communication Services by 11.7% in the 3rd quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock worth $675,000 after buying an additional 607 shares during the last quarter. Northwestern Mutual Wealth Management Co. bought a new stake in ProShares Ultra Communication Services in the 3rd quarter worth approximately $99,000. Finally, WealthCare Asset Management LLC bought a new stake in ProShares Ultra Communication Services in the 4th quarter worth approximately $710,000.

ProShares Ultra Communication Services Stock Performance

NYSEARCA LTL traded down $0.51 on Friday, hitting $26.58. 1,713 shares of the stock traded hands, compared to its average volume of 8,360. The firm has a market capitalization of $7.97 million, a price-to-earnings ratio of 19.19 and a beta of 1.69. ProShares Ultra Communication Services has a 12 month low of $20.86 and a 12 month high of $29.67. The business’s fifty day moving average is $26.42 and its two-hundred day moving average is $27.09.

ProShares Ultra Communication Services Company Profile

ProShares Ultra Telecommunications (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones U.S. Select Telecommunications Index (the Index). The Dow Jones U.S. Technology Index measures providers of fixed-line and mobile telephone services. Fixed-line includes regional and long-distance carriers. Mobile includes cellular, satellite and paging services. The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics.