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

ProShares Ultra Communication Services (NYSEARCA:LTL) was the recipient of a significant decrease in short interest in the month of October. As of October 30th, there was short interest totaling 5,589 shares, a decrease of 89.4% from the October 15th total of 52,624 shares. Currently, 2.9% of the company’s shares are sold short. Based on an average daily volume of 75,491 shares, the days-to-cover ratio is presently 0.1 days.

ProShares Ultra Communication Services Stock Down 1.9%

Shares of ProShares Ultra Communication Services stock traded down $0.44 on Thursday, hitting $22.13. The stock had a trading volume of 1,446 shares, compared to its average volume of 13,030. ProShares Ultra Communication Services has a one year low of $19.08 and a one year high of $29.38. The stock has a market cap of $4.20 million, a price-to-earnings ratio of 19.19 and a beta of 1.76. The stock’s 50-day simple moving average is $23.19 and its two-hundred day simple moving average is $25.05.

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.