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

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

ProShares Ultra Communication Services Trading Up 0.6%

LTL stock traded up $0.16 during trading on Friday, reaching $24.90. 21,669 shares of the stock were exchanged, compared to its average volume of 6,996. The firm’s 50 day moving average is $23.88 and its 200 day moving average is $25.80. The firm has a market cap of $6.72 million, a P/E ratio of 19.19 and a beta of 1.68. ProShares Ultra Communication Services has a twelve month low of $21.88 and a twelve month high of $29.67.

Hedge Funds Weigh In On ProShares Ultra Communication Services

Institutional investors have recently modified their holdings of the company. WealthCare Asset Management LLC bought a new stake in ProShares Ultra Communication Services during the 4th quarter valued at $710,000. IMC Chicago LLC lifted its stake 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 valued at $6,399,000 after buying an additional 182,872 shares in the last quarter. Susquehanna International Group LLP lifted its stake in shares of 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. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ProShares Ultra Communication Services during the third quarter valued at about $99,000. Finally, Citadel Advisors LLC acquired a new position in shares of ProShares Ultra Communication Services during the third quarter valued at about $347,000.

About ProShares Ultra Communication Services

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.