ProShares Ultra SmallCap600 (NYSEARCA:SAA) Short Interest Up 132.2% in August

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a significant increase in short interest during the month of August. As of August 14th, there was short interest totaling 10,257 shares, an increase of 132.2% from the July 30th total of 4,418 shares. Based on an average trading volume of 3,683 shares, the days-to-cover ratio is currently 2.8 days. Currently, 1.3% of the shares of the stock are sold short.

Institutional Trading of ProShares Ultra SmallCap600

Institutional investors and hedge funds have recently modified their holdings of the stock. Corient Private Wealth LLC raised its holdings in shares of ProShares Ultra SmallCap600 by 14.0% in the second quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock valued at $798,000 after acquiring an additional 4,439 shares in the last quarter. Osaic Holdings Inc. grew its holdings in ProShares Ultra SmallCap600 by 532.8% in the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock worth $176,000 after purchasing an additional 6,702 shares during the last quarter. Finally, Bank of America Corp DE purchased a new position in ProShares Ultra SmallCap600 during the 2nd quarter worth $129,000.

ProShares Ultra SmallCap600 Trading Down 1.8%

Shares of SAA stock traded down $0.67 on Friday, reaching $36.05. The company’s stock had a trading volume of 3,994 shares, compared to its average volume of 5,595. The stock’s fifty day simple moving average is $36.85 and its 200-day simple moving average is $32.79. ProShares Ultra SmallCap600 has a 1 year low of $22.57 and a 1 year high of $38.94. The company has a market capitalization of $29.20 million, a price-to-earnings ratio of 15.32 and a beta of 2.03.

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.