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

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a significant increase in short interest in the month of September. As of September 15th, there was short interest totaling 13,495 shares, an increase of 125.6% from the August 31st total of 5,982 shares. Based on an average daily volume of 10,765 shares, the short-interest ratio is presently 1.3 days. Currently, 6.1% of the shares of the company are sold short.

ProShares Ultra Communication Services Price Performance

NYSEARCA:LTL traded down $0.49 on Friday, reaching $24.75. 694 shares of the company’s stock were exchanged, compared to its average volume of 7,602. The firm has a market cap of $6.43 million, a price-to-earnings ratio of 19.19 and a beta of 1.68. ProShares Ultra Communication Services has a 52 week low of $21.88 and a 52 week high of $29.50. The stock has a fifty day simple moving average of $24.21 and a 200-day simple moving average of $25.12.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares Ultra Communication Services stock. WealthCare Asset Management LLC purchased a new stake in shares of ProShares Ultra Communication Services (NYSEARCA:LTL) during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 25,007 shares of the exchange traded fund’s stock, valued at approximately $710,000. ProShares Ultra Communication Services makes up 0.5% of WealthCare Asset Management LLC’s investment portfolio, making the stock its 24th largest position. WealthCare Asset Management LLC owned approximately 4.55% of ProShares Ultra Communication Services at the end of the most recent reporting 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.