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

ProShares Ultra Communication Services (NYSEARCA:LTL) was the recipient of a significant growth in short interest during the month of April. As of April 30th, there was short interest totaling 11,506 shares, a growth of 2,873.1% from the April 15th total of 387 shares. Approximately 3.8% of the company’s shares are sold short. Based on an average trading volume of 11,688 shares, the short-interest ratio is currently 1.0 days.

Institutional Investors Weigh In On ProShares Ultra Communication Services

A number of large investors have recently bought and sold shares of the stock. IMC Chicago LLC grew its holdings in shares of ProShares Ultra Communication Services by 100.0% during the third quarter. IMC Chicago LLC now owns 42,391 shares of the exchange traded fund’s stock valued at $4,950,000 after buying an additional 21,191 shares during the last quarter. WealthCare Asset Management LLC purchased a new position in ProShares Ultra Communication Services in the 4th quarter worth approximately $710,000. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ProShares Ultra Communication Services in the 3rd quarter worth approximately $99,000. Citadel Advisors LLC bought a new stake in shares of ProShares Ultra Communication Services in the 3rd quarter worth approximately $347,000. Finally, Susquehanna International Group LLP lifted its holdings in shares of ProShares Ultra Communication Services by 11.7% in the 3rd quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock worth $675,000 after acquiring an additional 607 shares during the last quarter.

ProShares Ultra Communication Services Stock Up 0.3%

Shares of LTL stock traded up $0.09 during trading hours on Wednesday, hitting $26.92. 165 shares of the company’s stock traded hands, compared to its average volume of 9,104. The stock’s 50 day simple moving average is $26.56 and its 200 day simple moving average is $27.11. The stock has a market cap of $8.07 million, a PE ratio of 19.19 and a beta of 1.69. ProShares Ultra Communication Services has a 12 month low of $20.86 and a 12 month high of $29.67.

ProShares Ultra Communication Services Company Profile

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.