ProShares Ultra SmallCap600 (NYSEARCA:SAA) Short Interest Update

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a significant growth in short interest in the month of August. As of August 14th, there was short interest totaling 10,257 shares, a growth of 132.2% from the July 30th total of 4,418 shares. Based on an average daily trading volume, of 3,683 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.3% of the company’s shares are short sold.

ProShares Ultra SmallCap600 Stock Performance

NYSEARCA SAA traded down $0.67 during trading on Friday, hitting $36.05. The stock had a trading volume of 3,994 shares, compared to its average volume of 5,595. The company’s 50-day moving average price is $36.85 and its two-hundred day moving average price is $32.79. ProShares Ultra SmallCap600 has a 12 month low of $22.57 and a 12 month high of $38.94. The company has a market capitalization of $29.20 million, a PE ratio of 15.32 and a beta of 2.03.

Hedge Funds Weigh In On ProShares Ultra SmallCap600

Several institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Bank of America Corp DE bought a new position in ProShares Ultra SmallCap600 during the 2nd quarter worth $129,000. Osaic Holdings Inc. lifted its holdings in shares of ProShares Ultra SmallCap600 by 532.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock worth $176,000 after purchasing an additional 6,702 shares in the last quarter. Finally, Corient Private Wealth LLC boosted its stake in ProShares Ultra SmallCap600 by 14.0% during the 2nd 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.

ProShares Ultra SmallCap600 Company Profile

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.