ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Significant Decrease in Short Interest

ProShares Ultra S&P500 (NYSEARCA:SSO) was the recipient of a significant decline in short interest in April. As of April 30th, there was short interest totaling 1,846,516 shares, a decline of 34.9% from the April 15th total of 2,838,549 shares. Currently, 1.6% of the company’s shares are short sold. Based on an average trading volume of 4,223,841 shares, the short-interest ratio is currently 0.4 days.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in SSO. Evolution Wealth Management Inc. lifted its holdings 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 worth $36,000 after acquiring an additional 315 shares in the last quarter. Park Square Financial Group LLC bought a new stake in shares of ProShares Ultra S&P500 in the third quarter valued at about $47,000. Tucker Asset Management LLC bought a new stake in shares of ProShares Ultra S&P500 in the fourth quarter valued at about $49,000. Corsicana & Co. lifted its holdings in shares of ProShares Ultra S&P500 by 100.0% in the fourth quarter. Corsicana & Co. now owns 920 shares of the real estate investment trust’s stock valued at $53,000 after purchasing an additional 460 shares in the last quarter. Finally, Bogart Wealth LLC bought a new stake in shares of ProShares Ultra S&P500 in the first quarter valued at about $55,000.

ProShares Ultra S&P500 Stock Performance

SSO stock traded down $0.94 during midday trading on Tuesday, hitting $65.37. 1,290,752 shares of the company’s stock were exchanged, compared to its average volume of 4,620,954. The stock’s fifty day moving average price is $58.24 and its 200-day moving average price is $58.17. The company has a market cap of $7.55 billion, a PE ratio of 24.25 and a beta of 2.01. ProShares Ultra S&P500 has a one year low of $42.53 and a one year high of $68.35.

About ProShares Ultra S&P500

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.