ProShares Ultra SmallCap600 (NYSEARCA:SAA) Short Interest Down 39.4% in May

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 18,249 shares, a decline of 39.4% from the April 30th total of 30,121 shares. Based on an average trading volume of 7,446 shares, the short-interest ratio is presently 2.5 days. Approximately 2.3% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of America Corp DE acquired a new position in shares of ProShares Ultra SmallCap600 during the second quarter worth about $129,000. Osaic Holdings Inc. grew its holdings in shares of ProShares Ultra SmallCap600 by 532.8% during the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after purchasing an additional 6,702 shares during the last quarter. Corient Private Wealth LLC grew its holdings 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 last quarter. Finally, LTG Capital LLC grew its holdings in shares of ProShares Ultra SmallCap600 by 0.8% during the third quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock valued at $9,181,000 after purchasing an additional 2,720 shares during the last quarter.

ProShares Ultra SmallCap600 Trading Up 2.4%

SAA stock opened at $33.81 on Friday. The stock has a 50-day moving average price of $31.06 and a two-hundred day moving average price of $28.91. ProShares Ultra SmallCap600 has a 12-month low of $20.51 and a 12-month high of $34.04. The company has a market cap of $27.39 million, a PE ratio of 15.32 and a beta of 2.04.

About ProShares Ultra SmallCap600

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.