ProShares Ultra Communication Services (NYSEARCA:LTL) Sees Significant Increase in Short Interest

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a significant growth in short interest during the month of July. As of July 15th, there was short interest totaling 1,281 shares, a growth of 592.4% from the June 30th total of 185 shares. Approximately 0.5% of the shares of the company are short sold. Based on an average daily trading volume, of 3,723 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On ProShares Ultra Communication Services

Several large investors have recently bought and sold shares of the stock. Citadel Advisors LLC bought a new position in shares of ProShares Ultra Communication Services during the 3rd quarter valued at about $347,000. Northwestern Mutual Wealth Management Co. purchased a new stake in ProShares Ultra Communication Services during the third quarter valued at about $99,000. Susquehanna International Group LLP lifted its stake in ProShares Ultra Communication Services by 11.7% during the third quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock valued at $675,000 after buying an additional 607 shares in the last quarter. IMC Chicago LLC boosted its holdings in shares of ProShares Ultra Communication Services by 431.4% in the fourth quarter. IMC Chicago LLC now owns 225,263 shares of the exchange traded fund’s stock worth $6,399,000 after buying an additional 182,872 shares during the period. Finally, WealthCare Asset Management LLC acquired a new position in shares of ProShares Ultra Communication Services in the fourth quarter worth about $710,000.

ProShares Ultra Communication Services Trading Up 1.2%

ProShares Ultra Communication Services stock traded up $0.26 during midday trading on Friday, reaching $22.17. 1,579 shares of the stock traded hands, compared to its average volume of 7,150. The firm has a fifty day moving average price of $24.62 and a two-hundred day moving average price of $26.19. The firm has a market cap of $5.99 million, a price-to-earnings ratio of 19.19 and a beta of 1.68. ProShares Ultra Communication Services has a fifty-two week low of $21.88 and a fifty-two week high of $29.67.

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.