ProShares Ultra Communication Services (NYSEARCA:LTL) Short Interest Up 2,873.1% in April

ProShares Ultra Communication Services (NYSEARCA:LTL) was the recipient of a significant growth in short interest in April. As of April 30th, there was short interest totaling 11,506 shares, a growth of 2,873.1% from the April 15th total of 387 shares. Based on an average daily trading volume, of 11,688 shares, the short-interest ratio is presently 1.0 days. Currently, 3.8% of the shares of the company are sold short.

ProShares Ultra Communication Services Stock Performance

Shares of NYSEARCA LTL opened at $26.71 on Tuesday. The company’s fifty day moving average price is $26.59 and its 200 day moving average price is $27.11. ProShares Ultra Communication Services has a 1 year low of $20.74 and a 1 year high of $29.67. The company has a market capitalization of $8.01 million, a PE ratio of 19.19 and a beta of 1.69.

Institutional Trading of ProShares Ultra Communication Services

Hedge funds have recently added to or reduced their stakes in the company. IMC Chicago LLC raised its position in ProShares Ultra Communication Services by 100.0% during the third quarter. IMC Chicago LLC now owns 42,391 shares of the exchange traded fund’s stock worth $4,950,000 after acquiring an additional 21,191 shares during the period. Citadel Advisors LLC acquired a new position in ProShares Ultra Communication Services during the third quarter worth $347,000. Northwestern Mutual Wealth Management Co. acquired a new position in ProShares Ultra Communication Services during the third quarter worth $99,000. Susquehanna International Group LLP raised its position in ProShares Ultra Communication Services by 11.7% during the third quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock worth $675,000 after acquiring an additional 607 shares during the period. Finally, WealthCare Asset Management LLC acquired a new position in ProShares Ultra Communication Services during the fourth quarter worth $710,000.

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.