ProShares Ultra Communication Services (NYSEARCA:LTL) Sees Significant Increase in Short Interest

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a large 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. Approximately 0.5% of the company’s shares are short sold. Based on an average daily volume of 3,723 shares, the short-interest ratio is presently 0.3 days.

Institutional Investors Weigh In On ProShares Ultra Communication Services

Several institutional investors and hedge funds have recently modified their holdings of the stock. Northwestern Mutual Wealth Management Co. bought a new stake in ProShares Ultra Communication Services in the third quarter valued at about $99,000. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Communication Services during the 3rd quarter valued at approximately $347,000. Susquehanna International Group LLP lifted its stake in ProShares Ultra Communication Services by 11.7% during the third quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock worth $675,000 after purchasing an additional 607 shares during the last quarter. WealthCare Asset Management LLC bought a new position in ProShares Ultra Communication Services during the fourth quarter worth $710,000. Finally, IMC Chicago LLC raised its stake in ProShares Ultra Communication Services by 431.4% during the fourth quarter. IMC Chicago LLC now owns 225,263 shares of the exchange traded fund’s stock worth $6,399,000 after acquiring an additional 182,872 shares during the period.

ProShares Ultra Communication Services Stock Performance

LTL traded up $0.26 on Friday, reaching $22.17. 1,579 shares of the company’s stock were exchanged, compared to its average volume of 7,150. The company has a market cap of $5.99 million, a price-to-earnings ratio of 19.19 and a beta of 1.68. ProShares Ultra Communication Services has a twelve month low of $21.88 and a twelve month high of $29.67. The company’s 50 day moving average is $24.62 and its 200-day moving average is $26.19.

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.