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

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a large drop in short interest in the month of June. As of June 15th, there was short interest totaling 155 shares, a drop of 46.9% from the May 31st total of 292 shares. Currently, 0.1% of the company’s stock are short sold. Based on an average daily trading volume, of 1,751 shares, the days-to-cover ratio is presently 0.1 days.

ProShares Ultra Communication Services Price Performance

Shares of ProShares Ultra Communication Services stock traded up $1.08 on Wednesday, reaching $23.89. 3,561 shares of the company were exchanged, compared to its average volume of 7,313. The stock’s 50 day moving average price is $25.68 and its 200-day moving average price is $26.67. ProShares Ultra Communication Services has a 1-year low of $21.88 and a 1-year high of $29.67. The company has a market cap of $7.17 million, a P/E ratio of 19.19 and a beta of 1.68.

Institutional Investors Weigh In On ProShares Ultra Communication Services

A number of large investors have recently modified their holdings of LTL. Northwestern Mutual Wealth Management Co. acquired a new stake in shares of ProShares Ultra Communication Services in the third quarter valued at approximately $99,000. Citadel Advisors LLC purchased a new stake in ProShares Ultra Communication Services in the 3rd quarter valued at $347,000. Susquehanna International Group LLP raised its position 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 purchasing an additional 607 shares during the last quarter. WealthCare Asset Management LLC acquired a new stake in ProShares Ultra Communication Services during the 4th quarter worth $710,000. Finally, IMC Chicago LLC boosted its stake in ProShares Ultra Communication Services by 431.4% during the 4th quarter. IMC Chicago LLC now owns 225,263 shares of the exchange traded fund’s stock worth $6,399,000 after purchasing an additional 182,872 shares during the period.

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.