ProShares Ultra SmallCap600 (NYSEARCA:SAA) Sees Large Increase in Short Interest

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a significant increase in short interest in February. As of February 13th, there was short interest totaling 14,344 shares, an increase of 630.3% from the January 29th total of 1,964 shares. Currently, 1.7% of the company’s stock are short sold. Based on an average daily volume of 8,308 shares, the short-interest ratio is presently 1.7 days. Based on an average daily volume of 8,308 shares, the short-interest ratio is presently 1.7 days. Currently, 1.7% of the company’s stock are short sold.

ProShares Ultra SmallCap600 Price Performance

Shares of SAA traded up $0.22 during midday trading on Wednesday, reaching $30.12. 1,943 shares of the stock were exchanged, compared to its average volume of 5,871. The company has a market capitalization of $25.00 million, a price-to-earnings ratio of 15.32 and a beta of 2.18. ProShares Ultra SmallCap600 has a twelve month low of $15.22 and a twelve month high of $31.26. The business’s 50-day moving average price is $28.72 and its 200 day moving average price is $26.53.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new stake in shares of ProShares Ultra SmallCap600 in the second quarter valued at about $129,000. Osaic Holdings Inc. grew its position in ProShares Ultra SmallCap600 by 532.8% in the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after acquiring an additional 6,702 shares in the last quarter. Corient Private Wealth LLC raised its stake in shares of ProShares Ultra SmallCap600 by 14.0% during the second quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock valued at $798,000 after purchasing an additional 4,439 shares during the period. Finally, LTG Capital LLC lifted its position in shares of ProShares Ultra SmallCap600 by 1.1% during the second quarter. LTG Capital LLC now owns 355,707 shares of the company’s stock worth $7,872,000 after purchasing an additional 4,000 shares in the last quarter.

ProShares Ultra SmallCap600 Company Profile

ProShares Ultra SmallCap600 (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the S&P SmallCap 600 Index (the Index). 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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.