ProShares Ultra Communication Services (NYSEARCA:LTL) Sees Large Growth in Short Interest

ProShares Ultra Communication Services (NYSEARCA:LTL) was the recipient of a significant growth in short interest in September. As of September 15th, there was short interest totaling 13,495 shares, a growth of 125.6% from the August 31st total of 5,982 shares. Currently, 6.1% of the shares of the stock are short sold. Based on an average trading volume of 10,765 shares, the days-to-cover ratio is presently 1.3 days.

ProShares Ultra Communication Services Stock Down 1.9%

Shares of LTL traded down $0.49 during trading hours on Friday, hitting $24.75. The company had a trading volume of 694 shares, compared to its average volume of 7,602. ProShares Ultra Communication Services has a 52-week low of $21.88 and a 52-week high of $29.50. The stock’s 50 day moving average price is $24.21 and its 200 day moving average price is $25.12. The firm has a market cap of $6.43 million, a P/E ratio of 19.19 and a beta of 1.68.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares Ultra Communication Services stock. WealthCare Asset Management LLC purchased a new stake in shares of ProShares Ultra Communication Services (NYSEARCA:LTL) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 25,007 shares of the exchange traded fund’s stock, valued at approximately $710,000. ProShares Ultra Communication Services comprises 0.5% of WealthCare Asset Management LLC’s holdings, making the stock its 24th biggest holding. WealthCare Asset Management LLC owned approximately 4.55% of ProShares Ultra Communication Services as of its most recent filing with the Securities and Exchange Commission.

ProShares Ultra Communication Services Company Profile

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.