ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Large Growth in Short Interest

ProShares Ultra S&P500 (NYSEARCA:SSO) saw a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 1,840,225 shares, an increase of 52.0% from the July 30th total of 1,210,859 shares. Based on an average daily trading volume, of 2,827,312 shares, the days-to-cover ratio is presently 0.7 days. Approximately 1.6% of the company’s stock are short sold.

Institutional Investors Weigh In On ProShares Ultra S&P500

Several institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Wealth Concepts LLC purchased a new position in ProShares Ultra S&P500 in the 1st quarter worth $549,000. NewEdge Advisors LLC lifted its stake in ProShares Ultra S&P500 by 199.8% during the 1st quarter. NewEdge Advisors LLC now owns 14,390 shares of the real estate investment trust’s stock valued at $1,191,000 after acquiring an additional 9,590 shares during the period. Goldman Sachs Group Inc. purchased a new stake in shares of ProShares Ultra S&P500 in the 1st quarter valued at $41,524,000. Ausdal Financial Partners Inc. purchased a new stake in shares of ProShares Ultra S&P500 in the 2nd quarter valued at $908,000. Finally, Bank of America Corp DE raised its holdings in shares of ProShares Ultra S&P500 by 519.0% during the second quarter. Bank of America Corp DE now owns 22,283 shares of the real estate investment trust’s stock worth $2,177,000 after purchasing an additional 18,683 shares during the last quarter.

ProShares Ultra S&P500 Stock Down 0.9%

Shares of SSO traded down $0.67 during mid-day trading on Tuesday, hitting $69.62. 708,293 shares of the company traded hands, compared to its average volume of 4,003,530. The company has a market capitalization of $8.12 billion, a PE ratio of 24.25 and a beta of 2.01. The business has a 50 day moving average of $68.44 and a 200 day moving average of $63.43. ProShares Ultra S&P500 has a 1-year low of $48.63 and a 1-year high of $72.80.

ProShares Ultra S&P500 Company Profile

ProShares Ultra S&P500 (the Fund), formerly Ultra S&P500 ProShares, seeks daily investment results that correspond to twice (200%) the daily performance of the S&P 500 Index. The S&P 500 Index is a measure of large-cap United States stock market performance. It is a float-adjusted market capitalization weighted index of 500 United States operating companies and real estate investment trusts (REITs) selected by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.