ProShares Ultra Communication Services (NYSEARCA:LTL) Shares Shorted: Short Interest Down 89.4% in October

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a significant drop in short interest in the month of October. As of October 30th, there was short interest totaling 5,589 shares, a drop of 89.4% from the October 15th total of 52,624 shares. Currently, 2.9% of the company’s stock are short sold. Based on an average daily volume of 75,491 shares, the days-to-cover ratio is presently 0.1 days.

ProShares Ultra Communication Services Stock Performance

Shares of NYSEARCA LTL traded up $0.46 during mid-day trading on Friday, reaching $22.59. The company had a trading volume of 1,115 shares, compared to its average volume of 12,975. The stock has a market capitalization of $4.29 million, a PE ratio of 19.19 and a beta of 1.76. ProShares Ultra Communication Services has a twelve month low of $19.08 and a twelve month high of $29.38. The stock’s 50 day moving average is $23.19 and its 200-day moving average is $25.05.

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.