ProShares Ultra SmallCap600 (NYSEARCA:SAA – Get Free Report) was the target of a large decrease in short interest during the month of May. As of May 15th, there was short interest totaling 18,249 shares, a decrease of 39.4% from the April 30th total of 30,121 shares. Based on an average daily volume of 7,446 shares, the days-to-cover ratio is presently 2.5 days. Approximately 2.3% of the shares of the stock are short sold.
ProShares Ultra SmallCap600 Trading Down 0.9%
SAA stock traded down $0.30 during trading on Wednesday, hitting $33.27. 1,227 shares of the stock traded hands, compared to its average volume of 6,271. The stock has a market cap of $26.95 million, a price-to-earnings ratio of 15.32 and a beta of 2.07. ProShares Ultra SmallCap600 has a one year low of $20.35 and a one year high of $34.04. The company has a 50 day simple moving average of $30.63 and a 200 day simple moving average of $28.73.
Institutional Inflows and Outflows
Institutional investors have recently modified their holdings of the company. Bank of America Corp DE acquired a new position in shares of ProShares Ultra SmallCap600 in the 2nd quarter worth approximately $129,000. Osaic Holdings Inc. increased its holdings in ProShares Ultra SmallCap600 by 532.8% during the 2nd quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after purchasing an additional 6,702 shares in the last quarter. Corient Private Wealth LLC increased its holdings in ProShares Ultra SmallCap600 by 14.0% during the 2nd quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock valued at $798,000 after purchasing an additional 4,439 shares in the last quarter. Finally, LTG Capital LLC raised its position in ProShares Ultra SmallCap600 by 0.8% in the 3rd quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock valued at $9,181,000 after purchasing an additional 2,720 shares during the last quarter.
ProShares Ultra SmallCap600 Company Profile
ProShares Ultra SmallCap600 (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the S&P SmallCap 600 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.
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