ProShares Ultra Communication Services (NYSEARCA:LTL – Get Free Report) was the recipient of a significant drop in short interest during the month of October. As of October 30th, there was short interest totaling 5,589 shares, a drop of 89.4% from the October 15th total of 52,624 shares. Based on an average trading volume of 75,491 shares, the short-interest ratio is currently 0.1 days. Currently, 2.9% of the shares of the company are sold short.
ProShares Ultra Communication Services Stock Performance
Shares of LTL traded up $0.41 during midday trading on Wednesday, hitting $22.63. 426 shares of the stock traded hands, compared to its average volume of 13,082. The business’s 50 day moving average price is $23.27 and its two-hundred day moving average price is $25.11. The firm has a market capitalization of $4.30 million, a PE ratio of 19.19 and a beta of 1.76. ProShares Ultra Communication Services has a 1-year low of $19.08 and a 1-year high of $29.38.
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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