ProShares Ultra S&P500 (NYSEARCA:SSO) Short Interest Up 52.0% in August

ProShares Ultra S&P500 (NYSEARCA:SSO) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 1,840,225 shares, a growth of 52.0% from the July 30th total of 1,210,859 shares. Approximately 1.6% of the company’s stock are short sold. Based on an average daily volume of 2,827,312 shares, the days-to-cover ratio is currently 0.7 days.

ProShares Ultra S&P500 Stock Performance

SSO stock traded down $0.67 during trading on Tuesday, reaching $69.62. 708,293 shares of the company traded hands, compared to its average volume of 4,003,530. ProShares Ultra S&P500 has a 12 month low of $48.63 and a 12 month high of $72.80. The business has a 50 day simple moving average of $68.44 and a 200 day simple moving average of $63.43. The company has a market capitalization of $8.12 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently modified their holdings of SSO. Evolution Wealth Management Inc. increased its position in shares of 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 purchasing an additional 315 shares in the last quarter. Western Wealth Management LLC acquired a new stake in shares of ProShares Ultra S&P500 in the 1st quarter worth $37,000. Tucker Asset Management LLC acquired a new stake in shares of ProShares Ultra S&P500 in the 4th quarter worth $49,000. Bogart Wealth LLC purchased a new position in ProShares Ultra S&P500 during the 1st quarter worth $55,000. Finally, Winnow Wealth LLC grew its stake in ProShares Ultra S&P500 by 100.3% during the 4th quarter. Winnow Wealth LLC now owns 1,216 shares of the real estate investment trust’s stock worth $71,000 after buying an additional 609 shares during the last quarter.

ProShares Ultra S&P500 Company Profile

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.