Short Interest in ProShares Ultra Communication Services (NYSEARCA:LTL) Decreases By 46.9%

ProShares Ultra Communication Services (NYSEARCA:LTL) was the recipient of a large 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. Approximately 0.1% of the company’s stock are short sold. Based on an average trading volume of 1,751 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Trading of ProShares Ultra Communication Services

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

ProShares Ultra Communication Services Stock Up 3.4%

NYSEARCA:LTL opened at $23.13 on Tuesday. The stock has a market capitalization of $6.94 million, a price-to-earnings ratio of 19.19 and a beta of 1.66. ProShares Ultra Communication Services has a 52 week low of $21.88 and a 52 week high of $29.67. The firm has a 50 day moving average of $25.88 and a 200 day moving average of $26.74.

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.