ProShares Ultra Communication Services (NYSEARCA:LTL – Get Free Report) was the recipient of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 11,506 shares, a growth of 2,873.1% from the April 15th total of 387 shares. Based on an average daily trading volume, of 11,688 shares, the short-interest ratio is currently 1.0 days. Approximately 3.8% of the shares of the company are sold short.
Institutional Investors Weigh In On ProShares Ultra Communication Services
A number of hedge funds have recently added to or reduced their stakes in LTL. IMC Chicago LLC raised its holdings in shares of 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 buying an additional 182,872 shares during the last quarter. WealthCare Asset Management LLC bought a new stake in ProShares Ultra Communication Services during the 4th quarter valued at $710,000. Susquehanna International Group LLP boosted its position in ProShares Ultra Communication Services by 11.7% during the 3rd quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock worth $675,000 after acquiring an additional 607 shares during the period. Citadel Advisors LLC bought a new position in shares of ProShares Ultra Communication Services in the third quarter worth $347,000. Finally, Northwestern Mutual Wealth Management Co. bought a new position in shares of ProShares Ultra Communication Services in the third quarter worth $99,000.
ProShares Ultra Communication Services Stock Down 2.1%
LTL stock traded down $0.58 during mid-day trading on Monday, reaching $26.71. The company had a trading volume of 2,202 shares, compared to its average volume of 9,256. The stock has a market capitalization of $8.01 million, a P/E ratio of 19.19 and a beta of 1.69. ProShares Ultra Communication Services has a one year low of $20.74 and a one year high of $29.67. The stock’s 50-day simple moving average is $26.59 and its two-hundred day simple moving average is $27.11.
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.
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