ProShares Ultra S&P500 (NYSEARCA:SSO – Get Free Report) was the recipient of a large drop in short interest in June. As of June 30th, there was short interest totaling 1,755,575 shares, a drop of 50.7% from the June 15th total of 3,560,187 shares. Based on an average daily volume of 3,195,753 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.5% of the shares of the stock are sold short.
Hedge Funds Weigh In On ProShares Ultra S&P500
Several large investors have recently modified their holdings of the business. Evolution Wealth Management Inc. grew its stake in shares of ProShares Ultra S&P500 by 100.0% in the fourth quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock worth $36,000 after purchasing an additional 315 shares during the last quarter. Western Wealth Management LLC bought a new position in ProShares Ultra S&P500 during the 1st quarter worth $37,000. Tucker Asset Management LLC acquired a new position in ProShares Ultra S&P500 during the 4th quarter worth about $49,000. Corsicana & Co. lifted its holdings in ProShares Ultra S&P500 by 100.0% during the 4th quarter. Corsicana & Co. now owns 920 shares of the real estate investment trust’s stock worth $53,000 after buying an additional 460 shares during the period. Finally, Bogart Wealth LLC bought a new stake in shares of ProShares Ultra S&P500 in the 1st quarter valued at about $55,000.
ProShares Ultra S&P500 Stock Performance
Shares of SSO traded up $0.51 during trading hours on Wednesday, reaching $68.66. The stock had a trading volume of 2,658,032 shares, compared to its average volume of 4,320,580. ProShares Ultra S&P500 has a 12 month low of $48.63 and a 12 month high of $70.13. The stock has a market capitalization of $8.08 billion, a PE ratio of 24.25 and a beta of 2.01. The company’s 50-day moving average is $67.10 and its two-hundred day moving average is $61.00.
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.
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