ProShares Ultra Communication Services (NYSEARCA:LTL – Get Free Report) saw a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 13,495 shares, a growth of 125.6% from the August 31st total of 5,982 shares. Currently, 6.1% of the company’s shares are short sold. Based on an average daily trading volume, of 10,765 shares, the short-interest ratio is presently 1.3 days.
Institutional Investors Weigh In On ProShares Ultra Communication Services
A hedge fund recently bought a new stake in ProShares Ultra Communication Services stock. WealthCare Asset Management LLC acquired a new position in shares of ProShares Ultra Communication Services (NYSEARCA:LTL – Free Report) in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm acquired 25,007 shares of the exchange traded fund’s stock, valued at approximately $710,000. ProShares Ultra Communication Services comprises 0.5% of WealthCare Asset Management LLC’s investment portfolio, making the stock its 24th largest holding. WealthCare Asset Management LLC owned 4.55% of ProShares Ultra Communication Services at the end of the most recent quarter.
ProShares Ultra Communication Services Trading Down 3.4%
NYSEARCA:LTL traded down $0.85 during trading hours on Monday, hitting $23.90. The company had a trading volume of 27,223 shares, compared to its average volume of 7,707. The company has a 50-day moving average of $24.21 and a 200 day moving average of $25.09. The company has a market cap of $6.21 million, a P/E ratio of 19.19 and a beta of 1.68. ProShares Ultra Communication Services has a 1 year low of $21.88 and a 1 year high of $29.50.
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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