Short Interest in ProShares Ultra Health Care (NYSEARCA:RXL) Declines By 20.8%

ProShares Ultra Health Care (NYSEARCA:RXL) saw a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 3,847 shares, a drop of 20.8% from the February 12th total of 4,856 shares. Approximately 0.2% of the company’s stock are short sold. Based on an average daily trading volume, of 7,138 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily trading volume, of 7,138 shares, the days-to-cover ratio is presently 0.5 days. Approximately 0.2% of the company’s stock are short sold.

ProShares Ultra Health Care Stock Performance

NYSEARCA:RXL traded down $0.89 during trading hours on Tuesday, reaching $47.67. The company’s stock had a trading volume of 13,041 shares, compared to its average volume of 11,479. The stock has a 50 day moving average price of $52.34 and a two-hundred day moving average price of $48.98. The company has a market capitalization of $81.04 million, a P/E ratio of 24.86 and a beta of 1.28. ProShares Ultra Health Care has a 12 month low of $36.23 and a 12 month high of $55.58.

Institutional Investors Weigh In On ProShares Ultra Health Care

A number of hedge funds have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC grew its position in shares of ProShares Ultra Health Care by 50.0% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock worth $37,000 after buying an additional 300 shares during the last quarter. Toth Financial Advisory Corp lifted its position in ProShares Ultra Health Care by 4.7% during the fourth quarter. Toth Financial Advisory Corp now owns 9,201 shares of the company’s stock valued at $477,000 after acquiring an additional 412 shares during the last quarter. Csenge Advisory Group purchased a new stake in ProShares Ultra Health Care during the fourth quarter valued at approximately $297,000. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Health Care in the third quarter valued at approximately $267,000. Finally, Envestnet Asset Management Inc. acquired a new stake in ProShares Ultra Health Care in the second quarter valued at approximately $468,000.

ProShares Ultra Health Care Company Profile

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.