ProShares Ultra Communication Services (NYSEARCA:LTL) Sees Large Growth in Short Interest

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a significant growth in short interest in August. As of August 31st, there was short interest totaling 5,982 shares, a growth of 3,460.7% from the August 15th total of 168 shares. Based on an average trading volume of 7,766 shares, the short-interest ratio is presently 0.8 days. Approximately 2.2% of the company’s shares are short sold.

ProShares Ultra Communication Services Trading Up 1.1%

NYSEARCA:LTL traded up $0.27 during mid-day trading on Thursday, hitting $24.12. The company had a trading volume of 1,694 shares, compared to its average volume of 6,865. The business has a fifty day simple moving average of $24.10 and a 200-day simple moving average of $25.37. ProShares Ultra Communication Services has a 1 year low of $21.88 and a 1 year high of $29.67. The firm has a market capitalization of $6.51 million, a price-to-earnings ratio of 19.19 and a beta of 1.68.

Institutional Investors Weigh In On ProShares Ultra Communication Services

A number of large investors have recently modified their holdings of LTL. Northwestern Mutual Wealth Management Co. acquired a new stake in ProShares Ultra Communication Services during the 3rd quarter valued at $99,000. Citadel Advisors LLC acquired a new position in ProShares Ultra Communication Services in the 3rd quarter worth $347,000. Susquehanna International Group LLP lifted its holdings 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 in the last quarter. Finally, WealthCare Asset Management LLC acquired a new position in ProShares Ultra Communication Services in the 4th quarter worth $710,000.

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.