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

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 832 shares, a drop of 82.0% from the May 31st total of 4,620 shares. Based on an average daily volume of 4,611 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.1% of the shares of the company are short sold.

Hedge Funds Weigh In On ProShares Ultra SmallCap600

Several institutional investors have recently bought and sold shares of the company. Osaic Holdings Inc. raised its stake in shares of ProShares Ultra SmallCap600 by 532.8% in the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after buying an additional 6,702 shares during the period. Bank of America Corp DE purchased a new stake in ProShares Ultra SmallCap600 during the second quarter valued at about $129,000. Corient Private Wealth LLC increased its stake in shares of ProShares Ultra SmallCap600 by 14.0% in 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 lifted its stake in shares of ProShares Ultra SmallCap600 by 0.8% during the 3rd quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock valued at $9,181,000 after buying an additional 2,720 shares in the last quarter.

ProShares Ultra SmallCap600 Stock Performance

SAA opened at $36.78 on Friday. ProShares Ultra SmallCap600 has a fifty-two week low of $21.09 and a fifty-two week high of $37.13. The firm has a 50-day moving average of $33.08 and a 200 day moving average of $29.94. The firm has a market cap of $29.79 million, a P/E ratio of 15.32 and a beta of 2.04.

About ProShares Ultra SmallCap600

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.