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

ProShares Ultra Health Care (NYSEARCA:RXL) saw a significant decrease in short interest in February. As of February 27th, there was short interest totaling 3,847 shares, a decrease of 20.8% from the February 12th total of 4,856 shares. Currently, 0.2% of the company’s shares are short sold. Based on an average trading volume of 7,138 shares, the days-to-cover ratio is currently 0.5 days. Based on an average trading volume of 7,138 shares, the days-to-cover ratio is currently 0.5 days. Currently, 0.2% of the company’s shares are short sold.

ProShares Ultra Health Care Stock Performance

RXL stock traded up $0.73 on Monday, reaching $48.56. The company’s stock had a trading volume of 8,563 shares, compared to its average volume of 11,445. The firm has a market cap of $82.55 million, a PE ratio of 24.86 and a beta of 1.28. The business has a fifty day simple moving average of $52.34 and a two-hundred day simple moving average of $48.98. ProShares Ultra Health Care has a 12-month low of $36.23 and a 12-month high of $55.58.

Institutional Investors Weigh In On ProShares Ultra Health Care

Several institutional investors and hedge funds have recently modified their holdings of RXL. Steward Partners Investment Advisory LLC boosted its stake in shares of ProShares Ultra Health Care by 50.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock valued at $37,000 after purchasing an additional 300 shares in the last quarter. Toth Financial Advisory Corp raised its stake in ProShares Ultra Health Care by 4.7% in the fourth quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock worth $477,000 after buying an additional 412 shares in the last quarter. Csenge Advisory Group bought a new position in ProShares Ultra Health Care in the fourth quarter worth about $297,000. Susquehanna International Group LLP purchased a new stake in ProShares Ultra Health Care in the third quarter worth about $267,000. Finally, Envestnet Asset Management Inc. purchased a new stake in ProShares Ultra Health Care in the second quarter worth about $468,000.

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.