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

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a large increase in short interest in August. As of August 31st, there was short interest totaling 5,982 shares, an increase 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 shares of the stock are short sold.

Hedge Funds Weigh In On ProShares Ultra Communication Services

Several large investors have recently modified their holdings of the business. WealthCare Asset Management LLC purchased a new position in ProShares Ultra Communication Services during the fourth quarter worth about $710,000. Susquehanna International Group LLP boosted its holdings 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 purchasing an additional 607 shares in the last quarter. Citadel Advisors LLC purchased a new position in shares of ProShares Ultra Communication Services in the 3rd quarter valued at $347,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new position in shares of ProShares Ultra Communication Services during the third quarter worth about $99,000.

ProShares Ultra Communication Services Stock Performance

Shares of ProShares Ultra Communication Services stock opened at $24.12 on Friday. The business’s 50 day moving average price is $24.11 and its 200 day moving average price is $25.34. The company has a market cap of $6.51 million, a price-to-earnings ratio of 19.19 and a beta of 1.68. ProShares Ultra Communication Services has a one year low of $21.88 and a one year high of $29.67.

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.