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

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a large drop in short interest in the month of May. As of May 15th, there was short interest totaling 2,812 shares, a drop of 75.6% from the April 30th total of 11,506 shares. Based on an average trading volume of 2,689 shares, the short-interest ratio is currently 1.0 days. Currently, 0.9% of the shares of the company are short sold.

ProShares Ultra Communication Services Trading Down 1.9%

Shares of LTL traded down $0.51 during midday trading on Friday, reaching $26.58. The stock had a trading volume of 1,713 shares, compared to its average volume of 8,360. The firm has a 50 day simple moving average of $26.42 and a 200-day simple moving average of $27.09. The firm has a market cap of $7.97 million, a PE ratio of 19.19 and a beta of 1.69. ProShares Ultra Communication Services has a one year low of $20.86 and a one year high of $29.67.

Institutional Trading of ProShares Ultra Communication Services

A number of hedge funds have recently modified their holdings of the stock. Susquehanna International Group LLP lifted its stake in shares of ProShares Ultra Communication Services by 11.7% during 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 last quarter. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ProShares Ultra Communication Services during the 3rd quarter worth about $99,000. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Communication Services during the 3rd quarter worth about $347,000. IMC Chicago LLC lifted its stake in shares of ProShares Ultra Communication Services by 100.0% during the 3rd quarter. IMC Chicago LLC now owns 42,391 shares of the exchange traded fund’s stock worth $4,950,000 after buying an additional 21,191 shares during the last quarter. Finally, WealthCare Asset Management LLC acquired a new stake in shares of ProShares Ultra Communication Services during the 4th quarter worth about $710,000.

ProShares Ultra Communication Services Company Profile

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.