ProShares Ultra SmallCap600 (NYSEARCA:SAA) Sees Large Drop in Short Interest

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the target of a large decline in short interest in December. As of December 31st, there was short interest totaling 997 shares, a decline of 89.5% from the December 15th total of 9,465 shares. Based on an average daily volume of 6,255 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the stock are short sold. Currently, 0.1% of the shares of the stock are short sold. Based on an average daily volume of 6,255 shares, the days-to-cover ratio is currently 0.2 days.

ProShares Ultra SmallCap600 Stock Up 0.2%

NYSEARCA:SAA traded up $0.06 during trading hours on Monday, reaching $28.51. 4,193 shares of the company’s stock were exchanged, compared to its average volume of 4,413. The company has a market capitalization of $23.66 million, a P/E ratio of 15.32 and a beta of 2.18. ProShares Ultra SmallCap600 has a 12 month low of $15.22 and a 12 month high of $28.51. The business’s 50-day simple moving average is $26.05 and its two-hundred day simple moving average is $25.05.

Institutional Investors Weigh In On ProShares Ultra SmallCap600

Hedge funds have recently modified their holdings of the stock. LTG Capital LLC raised its stake in shares of ProShares Ultra SmallCap600 by 0.8% during the 3rd quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock worth $9,181,000 after purchasing an additional 2,720 shares in the last quarter. Corient Private Wealth LLC increased its holdings in ProShares Ultra SmallCap600 by 14.0% in the second quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock worth $798,000 after buying an additional 4,439 shares during the last quarter. Osaic Holdings Inc. raised its position in ProShares Ultra SmallCap600 by 532.8% during the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after acquiring an additional 6,702 shares in the last quarter. Finally, Bank of America Corp DE acquired a new stake in ProShares Ultra SmallCap600 in the second quarter valued at approximately $129,000.

About ProShares Ultra SmallCap600

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.