ProShares Ultra S&P500 (NYSEARCA:SSO – Get Free Report) saw a significant drop in short interest in the month of April. As of April 30th, there was short interest totaling 1,846,516 shares, a drop of 34.9% from the April 15th total of 2,838,549 shares. Based on an average daily volume of 4,223,841 shares, the days-to-cover ratio is presently 0.4 days. Currently, 1.6% of the company’s stock are sold short.
Institutional Inflows and Outflows
Several hedge funds and other institutional investors have recently made changes to their positions in SSO. Park Square Financial Group LLC bought a new stake in shares of ProShares Ultra S&P500 during the third quarter worth $47,000. Winnow Wealth LLC purchased a new stake in ProShares Ultra S&P500 during the third quarter valued at about $69,000. Evolution Wealth Management Inc. grew its holdings in ProShares Ultra S&P500 by 100.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 315 shares during the last quarter. Sunbelt Securities Inc. boosted its position in shares of ProShares Ultra S&P500 by 153.2% during the third quarter. Sunbelt Securities Inc. now owns 704 shares of the real estate investment trust’s stock valued at $79,000 after purchasing an additional 426 shares in the last quarter. Finally, Financial Life Planners purchased a new position in ProShares Ultra S&P500 in the third quarter worth about $82,000.
ProShares Ultra S&P500 Trading Down 0.7%
SSO traded down $0.45 on Monday, reaching $65.98. The company had a trading volume of 1,042,972 shares, compared to its average volume of 4,618,785. The company has a fifty day moving average of $58.06 and a 200-day moving average of $58.12. The company has a market capitalization of $7.62 billion, a P/E ratio of 24.25 and a beta of 2.01. ProShares Ultra S&P500 has a one year low of $42.53 and a one year high of $68.35.
ProShares Ultra S&P500 Company Profile
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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