Short Interest in ProShares Ultra S&P500 (NYSEARCA:SSO) Expands By 52.0%

ProShares Ultra S&P500 (NYSEARCA:SSO) was the recipient of a significant growth in short interest in August. As of August 14th, there was short interest totaling 1,840,225 shares, a growth of 52.0% from the July 30th total of 1,210,859 shares. Approximately 1.6% of the company’s stock are sold short. Based on an average daily volume of 2,827,312 shares, the short-interest ratio is currently 0.7 days.

Hedge Funds Weigh In On ProShares Ultra S&P500

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Integrated Wealth Concepts LLC acquired a new stake in shares of ProShares Ultra S&P500 in the first quarter worth $549,000. NewEdge Advisors LLC grew its stake in ProShares Ultra S&P500 by 199.8% in the 1st quarter. NewEdge Advisors LLC now owns 14,390 shares of the real estate investment trust’s stock valued at $1,191,000 after buying an additional 9,590 shares during the last quarter. Goldman Sachs Group Inc. acquired a new position in ProShares Ultra S&P500 in the 1st quarter valued at $41,524,000. Ausdal Financial Partners Inc. acquired a new position in ProShares Ultra S&P500 in the 2nd quarter valued at $908,000. Finally, Bank of America Corp DE raised its holdings in ProShares Ultra S&P500 by 519.0% in the 2nd quarter. Bank of America Corp DE now owns 22,283 shares of the real estate investment trust’s stock worth $2,177,000 after acquiring an additional 18,683 shares during the period.

ProShares Ultra S&P500 Stock Performance

Shares of NYSEARCA SSO traded up $0.74 during mid-day trading on Wednesday, reaching $70.05. 1,131,471 shares of the company traded hands, compared to its average volume of 4,018,136. The company’s fifty day moving average is $68.52 and its two-hundred day moving average is $63.50. ProShares Ultra S&P500 has a fifty-two week low of $48.63 and a fifty-two week high of $72.80. The stock has a market cap of $8.17 billion, a PE ratio of 24.25 and a beta of 2.01.

About ProShares Ultra S&P500

ProShares Ultra S&P500 (the Fund), formerly Ultra S&P500 ProShares, seeks daily investment results that correspond to twice (200%) the daily performance of the S&P 500 Index. The S&P 500 Index is a measure of large-cap United States stock market performance. It is a float-adjusted market capitalization weighted index of 500 United States operating companies and real estate investment trusts (REITs) selected by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.