ProShares Ultra Communication Services (NYSEARCA:LTL) Short Interest Update

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a large decline in short interest in May. As of May 15th, there was short interest totaling 2,812 shares, a decline of 75.6% from the April 30th total of 11,506 shares. Based on an average daily volume of 2,689 shares, the days-to-cover ratio is currently 1.0 days. Approximately 0.9% of the shares of the company are sold short.

ProShares Ultra Communication Services Price Performance

ProShares Ultra Communication Services stock traded down $0.51 during midday trading on Friday, hitting $26.58. The company’s stock had a trading volume of 1,713 shares, compared to its average volume of 8,360. ProShares Ultra Communication Services has a 1-year low of $20.86 and a 1-year high of $29.67. The company has a 50-day moving average price of $26.42 and a two-hundred day moving average price of $27.09. The company has a market cap of $7.97 million, a price-to-earnings ratio of 19.19 and a beta of 1.69.

Institutional Trading of ProShares Ultra Communication Services

Hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP increased its holdings in 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 valued at $675,000 after buying an additional 607 shares during the period. Northwestern Mutual Wealth Management Co. bought a new position in ProShares Ultra Communication Services in the 3rd quarter valued at about $99,000. Citadel Advisors LLC acquired a new stake in shares of ProShares Ultra Communication Services in the 3rd quarter valued at $347,000. IMC Chicago LLC increased its stake in shares of ProShares Ultra Communication Services by 100.0% in the 3rd quarter. IMC Chicago LLC now owns 42,391 shares of the exchange traded fund’s stock valued at $4,950,000 after purchasing an additional 21,191 shares during the last quarter. Finally, WealthCare Asset Management LLC acquired a new position in shares of ProShares Ultra Communication Services during the 4th quarter worth $710,000.

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.