Short Interest in ProShares Ultra Communication Services (NYSEARCA:LTL) Decreases By 83.1%

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a large drop in short interest during the month of July. As of July 31st, there was short interest totaling 217 shares, a drop of 83.1% from the July 15th total of 1,281 shares. Based on an average daily volume of 6,101 shares, the short-interest ratio is presently 0.0 days. Approximately 0.1% of the shares of the stock are sold short.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ProShares Ultra Communication Services during the 3rd quarter valued at approximately $99,000. Citadel Advisors LLC bought a new position in ProShares Ultra Communication Services in the 3rd quarter valued at approximately $347,000. Susquehanna International Group LLP boosted its position in ProShares Ultra Communication Services by 11.7% in 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. WealthCare Asset Management LLC acquired a new stake in ProShares Ultra Communication Services in the fourth quarter valued at approximately $710,000. Finally, IMC Chicago LLC grew its stake in shares of ProShares Ultra Communication Services by 431.4% during 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 last quarter.

ProShares Ultra Communication Services Stock Performance

Shares of ProShares Ultra Communication Services stock traded up $0.94 during trading on Thursday, reaching $24.74. 2,501 shares of the company’s stock were exchanged, compared to its average volume of 6,901. ProShares Ultra Communication Services has a 1-year low of $21.88 and a 1-year high of $29.67. The company has a market cap of $6.68 million, a P/E ratio of 19.19 and a beta of 1.68. The firm’s 50-day moving average price is $23.88 and its 200 day moving average price is $25.80.

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.