Short Interest in ProShares Ultra S&P500 (NYSEARCA:SSO) Decreases By 35.7%

ProShares Ultra S&P500 (NYSEARCA:SSO) saw a large decrease in short interest during the month of August. As of August 31st, there was short interest totaling 1,183,275 shares, a decrease of 35.7% from the August 15th total of 1,840,225 shares. Based on an average trading volume of 2,977,766 shares, the short-interest ratio is presently 0.4 days. Approximately 1.0% of the shares of the stock are sold short.

ProShares Ultra S&P500 Stock Up 0.1%

SSO opened at $69.39 on Friday. The firm has a market cap of $8.34 billion, a PE ratio of 24.25 and a beta of 2.01. The business has a fifty day simple moving average of $69.23 and a 200-day simple moving average of $64.51. ProShares Ultra S&P500 has a fifty-two week low of $48.63 and a fifty-two week high of $72.80.

Hedge Funds Weigh In On ProShares Ultra S&P500

A number of hedge funds and other institutional investors have recently modified their holdings of SSO. Pinkerton Wealth LLC raised its holdings in ProShares Ultra S&P500 by 118.6% during the 4th quarter. Pinkerton Wealth LLC now owns 677,536 shares of the real estate investment trust’s stock worth $39,243,000 after buying an additional 367,655 shares during the period. Client First Investment Management LLC boosted its holdings in shares of ProShares Ultra S&P500 by 361.3% in the second quarter. Client First Investment Management LLC now owns 544,551 shares of the real estate investment trust’s stock worth $36,692,000 after buying an additional 426,494 shares during the period. Revere Asset Management Inc increased its position in shares of ProShares Ultra S&P500 by 75.7% in the fourth quarter. Revere Asset Management Inc now owns 508,989 shares of the real estate investment trust’s stock worth $29,481,000 after acquiring an additional 219,283 shares in the last quarter. HighTower Advisors LLC increased its position in shares of ProShares Ultra S&P500 by 108.2% in the fourth quarter. HighTower Advisors LLC now owns 342,979 shares of the real estate investment trust’s stock worth $19,865,000 after acquiring an additional 178,274 shares in the last quarter. Finally, Ridgepath Capital Management LLC raised its holdings in shares of ProShares Ultra S&P500 by 4.1% during the first quarter. Ridgepath Capital Management LLC now owns 370,104 shares of the real estate investment trust’s stock valued at $19,201,000 after acquiring an additional 14,667 shares during the period.

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.