ProShares Ultra Health Care (NYSEARCA:RXL) Sees Large Drop in Short Interest

ProShares Ultra Health Care (NYSEARCA:RXL) was the target of a significant decrease in short interest during the month of January. As of January 15th, there was short interest totaling 10,103 shares, a decrease of 30.4% from the December 31st total of 14,525 shares. Based on an average daily volume of 11,593 shares, the days-to-cover ratio is presently 0.9 days. Currently, 0.6% of the shares of the company are short sold. Currently, 0.6% of the shares of the company are short sold. Based on an average daily volume of 11,593 shares, the days-to-cover ratio is presently 0.9 days.

ProShares Ultra Health Care Stock Up 1.1%

NYSEARCA:RXL traded up $0.57 during midday trading on Friday, reaching $51.48. The stock had a trading volume of 6,896 shares, compared to its average volume of 10,535. The stock has a market cap of $87.52 million, a P/E ratio of 24.86 and a beta of 1.28. The firm has a fifty day simple moving average of $52.35 and a two-hundred day simple moving average of $46.24. ProShares Ultra Health Care has a 12-month low of $36.23 and a 12-month high of $55.58.

Institutional Inflows and Outflows

Several large investors have recently added to or reduced their stakes in the company. Envestnet Asset Management Inc. acquired a new position in ProShares Ultra Health Care in the second quarter valued at $468,000. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Health Care in the 3rd quarter worth about $267,000. Toth Financial Advisory Corp grew its holdings in ProShares Ultra Health Care by 4.7% in the 4th quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock valued at $477,000 after buying an additional 412 shares during the period. Finally, Steward Partners Investment Advisory LLC increased its stake in shares of ProShares Ultra Health Care by 50.0% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock valued at $37,000 after acquiring an additional 300 shares during the last quarter.

About ProShares Ultra Health Care

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care 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.