ProShares Ultra Communication Services (NYSEARCA:LTL) Stock Short Interest Falls 89.4%

ProShares Ultra Communication Services (NYSEARCA:LTL) was the recipient of a significant decline in short interest in October. As of October 30th, there was short interest totaling 5,589 shares, a decline of 89.4% from the October 15th total of 52,624 shares. Based on an average trading volume of 75,491 shares, the days-to-cover ratio is presently 0.1 days. Approximately 2.9% of the shares of the stock are short sold.

ProShares Ultra Communication Services Price Performance

Shares of LTL traded up $0.41 during mid-day trading on Wednesday, hitting $22.63. The company’s stock had a trading volume of 426 shares, compared to its average volume of 13,082. ProShares Ultra Communication Services has a fifty-two week low of $19.08 and a fifty-two week high of $29.38. The stock has a market capitalization of $4.30 million, a price-to-earnings ratio of 19.19 and a beta of 1.76. The firm has a 50-day moving average price of $23.27 and a 200 day moving average price of $25.11.

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.