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

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a significant growth in short interest in July. As of July 15th, there was short interest totaling 1,281 shares, a growth of 592.4% from the June 30th total of 185 shares. Based on an average daily trading volume, of 3,723 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.5% of the company’s shares are sold short.

Institutional Trading of ProShares Ultra Communication Services

A number of institutional investors have recently bought and sold shares of the business. Northwestern Mutual Wealth Management Co. acquired a new position in ProShares Ultra Communication Services in the third quarter valued at $99,000. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Communication Services during the third quarter worth about $347,000. Susquehanna International Group LLP lifted 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 shares of ProShares Ultra Communication Services in the fourth quarter valued at approximately $710,000. Finally, IMC Chicago LLC boosted its holdings in shares of 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 valued at $6,399,000 after acquiring an additional 182,872 shares during the period.

ProShares Ultra Communication Services Price Performance

Shares of LTL opened at $22.17 on Monday. ProShares Ultra Communication Services has a fifty-two week low of $21.88 and a fifty-two week high of $29.67. The firm’s 50 day moving average price is $24.62 and its 200 day moving average price is $26.18. The company has a market cap of $5.99 million, a P/E ratio of 19.19 and a beta of 1.68.

About ProShares Ultra Communication Services

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.