Short Interest in ProShares Ultra Communication Services (NYSEARCA:LTL) Drops By 75.6%
by Scott Moore · The Cerbat GemProShares Ultra Communication Services (NYSEARCA:LTL – Get Free Report) was the recipient of a significant decline in short interest in the month of May. As of May 15th, there was short interest totaling 2,812 shares, a decline of 75.6% from the April 30th total of 11,506 shares. Based on an average trading volume of 2,689 shares, the days-to-cover ratio is currently 1.0 days. Currently, 0.9% of the shares of the company are short sold.
ProShares Ultra Communication Services Stock Performance
Shares of LTL stock traded down $0.51 during trading hours on Friday, reaching $26.58. The company had a trading volume of 1,713 shares, compared to its average volume of 8,360. The business has a fifty day moving average price of $26.42 and a 200-day moving average price of $27.09. ProShares Ultra Communication Services has a one year low of $20.86 and a one year high of $29.67. The firm has a market cap of $7.97 million, a PE ratio of 19.19 and a beta of 1.69.
Institutional Trading of ProShares Ultra Communication Services
Large investors have recently made changes to their positions in the stock. Northwestern Mutual Wealth Management Co. bought a new stake in shares of ProShares Ultra Communication Services in the third quarter worth approximately $99,000. Citadel Advisors LLC bought a new stake in ProShares Ultra Communication Services during the third quarter valued at approximately $347,000. Susquehanna International Group LLP grew its position in ProShares Ultra Communication Services by 11.7% during the third quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock valued at $675,000 after buying an additional 607 shares during the period. WealthCare Asset Management LLC bought a new stake in ProShares Ultra Communication Services during the fourth quarter valued at approximately $710,000. Finally, IMC Chicago LLC grew its position in ProShares Ultra Communication Services by 100.0% during the third quarter. IMC Chicago LLC now owns 42,391 shares of the exchange traded fund’s stock valued at $4,950,000 after buying an additional 21,191 shares during the period.
ProShares Ultra Communication Services Company Profile
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.