ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Large Drop in Short Interest

ProShares Ultra S&P500 (NYSEARCA:SSO) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 1,183,275 shares, a decrease of 35.7% from the August 15th total of 1,840,225 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average daily trading volume, of 2,977,766 shares, the days-to-cover ratio is currently 0.4 days.

Institutional Trading of ProShares Ultra S&P500

Large investors have recently bought and sold shares of the company. Evolution Wealth Management Inc. raised its stake in ProShares Ultra S&P500 by 100.0% during the fourth quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock valued at $36,000 after buying an additional 315 shares during the last quarter. Western Wealth Management LLC bought a new position in shares of ProShares Ultra S&P500 during the first quarter valued at $37,000. Tucker Asset Management LLC purchased a new position in shares of ProShares Ultra S&P500 in the 4th quarter worth about $49,000. Bogart Wealth LLC purchased a new position in shares of ProShares Ultra S&P500 in the 1st quarter worth about $55,000. Finally, Winnow Wealth LLC raised its position in shares of ProShares Ultra S&P500 by 100.3% in the 4th quarter. Winnow Wealth LLC now owns 1,216 shares of the real estate investment trust’s stock worth $71,000 after purchasing an additional 609 shares during the last quarter.

ProShares Ultra S&P500 Trading Up 2.2%

Shares of NYSEARCA:SSO traded up $1.52 on Thursday, reaching $69.29. 2,397,968 shares of the company traded hands, compared to its average volume of 3,943,661. The stock has a market capitalization of $8.33 billion, a P/E ratio of 24.25 and a beta of 2.01. The business’s 50-day simple moving average is $69.19 and its 200 day simple moving average is $64.40. ProShares Ultra S&P500 has a 52 week low of $48.63 and a 52 week high of $72.80.

ProShares Ultra S&P500 Company Profile

ProShares Ultra S&P500 (the Fund), formerly Ultra S&P500 ProShares, seeks daily investment results that correspond to twice (200%) the daily performance of the S&P 500 Index. The S&P 500 Index is a measure of large-cap United States stock market performance. It is a float-adjusted market capitalization weighted index of 500 United States operating companies and real estate investment trusts (REITs) selected by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.