Short Interest in ProShares Ultra Communication Services (NYSEARCA:LTL) Decreases By 46.9%

ProShares Ultra Communication Services (NYSEARCA:LTL) saw a significant decrease in short interest in the month of June. As of June 15th, there was short interest totaling 155 shares, a decrease of 46.9% from the May 31st total of 292 shares. Based on an average trading volume of 1,751 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.1% of the company’s stock are sold short.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the stock. IMC Chicago LLC boosted its position in ProShares Ultra Communication Services by 431.4% during the fourth quarter. IMC Chicago LLC now owns 225,263 shares of the exchange traded fund’s stock valued at $6,399,000 after purchasing an additional 182,872 shares in the last quarter. WealthCare Asset Management LLC bought a new position in ProShares Ultra Communication Services in the fourth quarter worth about $710,000. Susquehanna International Group LLP lifted its position in shares of ProShares Ultra Communication Services by 11.7% during the third quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock valued at $675,000 after buying an additional 607 shares during the last quarter. Citadel Advisors LLC purchased a new stake in shares of ProShares Ultra Communication Services during the third quarter valued at about $347,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in shares of ProShares Ultra Communication Services during the third quarter valued at about $99,000.

ProShares Ultra Communication Services Price Performance

Shares of ProShares Ultra Communication Services stock opened at $23.13 on Tuesday. The stock has a market cap of $6.94 million, a price-to-earnings ratio of 19.19 and a beta of 1.66. The firm’s 50-day moving average is $25.88 and its two-hundred day moving average is $26.74. ProShares Ultra Communication Services has a 1 year low of $21.88 and a 1 year high of $29.67.

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.