ProShares Ultra SmallCap600 (NYSEARCA:SAA) Sees Large Decline in Short Interest

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a large decrease in short interest during the month of May. As of May 29th, there was short interest totaling 4,620 shares, a decrease of 74.7% from the May 14th total of 18,249 shares. Based on an average daily volume of 5,920 shares, the days-to-cover ratio is presently 0.8 days. Currently, 0.6% of the shares of the company are short sold.

ProShares Ultra SmallCap600 Stock Performance

Shares of NYSEARCA SAA traded up $0.71 during midday trading on Friday, hitting $35.48. 2,582 shares of the company’s stock traded hands, compared to its average volume of 6,051. The firm has a fifty day moving average of $31.92 and a 200 day moving average of $29.31. ProShares Ultra SmallCap600 has a 1 year low of $20.51 and a 1 year high of $35.74. The stock has a market capitalization of $28.74 million, a price-to-earnings ratio of 15.32 and a beta of 2.04.

Institutional Inflows and Outflows

Institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE bought a new position in shares of ProShares Ultra SmallCap600 in the second quarter worth about $129,000. Osaic Holdings Inc. grew its position in shares of ProShares Ultra SmallCap600 by 532.8% during the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock worth $176,000 after purchasing an additional 6,702 shares in the last quarter. Corient Private Wealth LLC grew its position in shares of ProShares Ultra SmallCap600 by 14.0% during the second quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock worth $798,000 after purchasing an additional 4,439 shares in the last quarter. Finally, LTG Capital LLC grew its position in shares of ProShares Ultra SmallCap600 by 0.8% during the third quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock worth $9,181,000 after purchasing an additional 2,720 shares in the last quarter.

ProShares Ultra SmallCap600 Company Profile

ProShares Ultra SmallCap600 (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the S&P SmallCap 600 Index (the Index). 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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.