ProShares Ultra Communication Services (NYSEARCA:LTL) Short Interest Update

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a significant decline in short interest in June. As of June 15th, there was short interest totaling 155 shares, a decline of 46.9% from the May 31st total of 292 shares. Currently, 0.1% of the shares of the company are short sold. Based on an average daily volume of 1,751 shares, the short-interest ratio is presently 0.1 days.

ProShares Ultra Communication Services Stock Down 0.2%

NYSEARCA:LTL traded down $0.05 during mid-day trading on Thursday, hitting $23.84. 1,508 shares of the company traded hands, compared to its average volume of 7,266. The stock’s fifty day moving average price is $25.61 and its 200-day moving average price is $26.64. The firm has a market cap of $7.15 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.

Institutional Investors Weigh In On ProShares Ultra Communication Services

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new position in ProShares Ultra Communication Services during the third quarter valued at approximately $99,000. Citadel Advisors LLC bought a new stake in shares of ProShares Ultra Communication Services during the 3rd quarter valued at $347,000. Susquehanna International Group LLP boosted its holdings in ProShares Ultra Communication Services by 11.7% in the 3rd quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock worth $675,000 after buying an additional 607 shares during the period. WealthCare Asset Management LLC purchased a new stake in ProShares Ultra Communication Services in the 4th quarter worth $710,000. Finally, IMC Chicago LLC raised its holdings in ProShares Ultra Communication Services by 431.4% during the fourth quarter. IMC Chicago LLC now owns 225,263 shares of the exchange traded fund’s stock valued at $6,399,000 after acquiring an additional 182,872 shares during the period.

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.