Short Interest in ProShares Ultra Health Care (NYSEARCA:RXL) Drops By 13.7%

ProShares Ultra Health Care (NYSEARCA:RXL) was the target of a large decrease in short interest in the month of March. As of March 31st, there was short interest totaling 931 shares, a decrease of 13.7% from the March 15th total of 1,079 shares. Based on an average daily trading volume, of 9,353 shares, the days-to-cover ratio is currently 0.1 days. Currently, 0.1% of the company’s stock are short sold.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in RXL. Osaic Holdings Inc. raised its stake in shares of ProShares Ultra Health Care by 604.9% during the 4th quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after purchasing an additional 13,242 shares during the period. Susquehanna International Group LLP bought a new position in ProShares Ultra Health Care during the third quarter valued at about $267,000. Csenge Advisory Group purchased a new stake in ProShares Ultra Health Care during the fourth quarter worth about $297,000. Finally, Toth Financial Advisory Corp increased its holdings in ProShares Ultra Health Care by 4.7% during 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 during the last quarter.

ProShares Ultra Health Care Stock Performance

ProShares Ultra Health Care stock traded up $1.51 during mid-day trading on Friday, reaching $47.22. The stock had a trading volume of 1,974 shares, compared to its average volume of 10,605. ProShares Ultra Health Care has a fifty-two week low of $36.23 and a fifty-two week high of $55.58. The stock’s 50-day simple moving average is $49.19 and its 200-day simple moving average is $49.60. The firm has a market capitalization of $77.45 million, a PE ratio of 24.86 and a beta of 1.27.

ProShares Ultra Health Care Cuts Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were issued a dividend of $0.1444 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.58 annualized dividend and a yield of 1.2%.

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.