ProShares Ultra Health Care (NYSEARCA:RXL) Sees Large Growth in Short Interest

ProShares Ultra Health Care (NYSEARCA:RXL) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 35,590 shares, an increase of 1,787.1% from the August 15th total of 1,886 shares. Based on an average daily volume of 22,606 shares, the days-to-cover ratio is presently 1.6 days. Approximately 2.3% of the shares of the company are short sold.

ProShares Ultra Health Care Stock Performance

NYSEARCA RXL traded down $0.73 during trading hours on Thursday, hitting $56.59. The company had a trading volume of 6,062 shares, compared to its average volume of 11,704. ProShares Ultra Health Care has a 52 week low of $39.32 and a 52 week high of $64.60. The firm has a 50 day simple moving average of $57.61 and a 200 day simple moving average of $51.14. The firm has a market capitalization of $86.58 million, a price-to-earnings ratio of 24.86 and a beta of 1.12.

Institutional Investors Weigh In On ProShares Ultra Health Care

Institutional investors and hedge funds have recently modified their holdings of the company. Citadel Advisors LLC grew its stake in ProShares Ultra Health Care by 12.7% during the second quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock valued at $492,000 after acquiring an additional 1,042 shares in the last quarter. IMC Chicago LLC bought a new stake in ProShares Ultra Health Care during the 1st quarter worth approximately $3,103,000. Osaic Holdings Inc. lifted its stake in ProShares Ultra Health Care by 604.9% in the 4th quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after purchasing an additional 13,242 shares in the last quarter. Csenge Advisory Group purchased a new stake in ProShares Ultra Health Care in the 4th quarter worth approximately $297,000. Finally, Susquehanna International Group LLP bought a new position in ProShares Ultra Health Care in the 3rd quarter valued at $267,000.

About ProShares Ultra Health Care

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care 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.