ProShares Ultra Communication Services (NYSEARCA:LTL) Short Interest Up 592.4% in July

ProShares Ultra Communication Services (NYSEARCA:LTL) was the target of a significant increase in short interest during the month of July. As of July 15th, there was short interest totaling 1,281 shares, an increase of 592.4% from the June 30th total of 185 shares. Based on an average daily volume of 3,723 shares, the days-to-cover ratio is presently 0.3 days. Approximately 0.5% of the company’s shares are short sold.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Citadel Advisors LLC purchased a new stake in ProShares Ultra Communication Services in the third quarter valued at $347,000. Northwestern Mutual Wealth Management Co. acquired a new position in shares of ProShares Ultra Communication Services during the third quarter valued at approximately $99,000. Susquehanna International Group LLP raised its stake in ProShares Ultra Communication Services by 11.7% in the 3rd quarter. Susquehanna International Group LLP now owns 5,777 shares of the exchange traded fund’s stock valued at $675,000 after purchasing an additional 607 shares during the last quarter. IMC Chicago LLC lifted its stake in shares of ProShares Ultra Communication Services by 431.4% in the fourth quarter. IMC Chicago LLC now owns 225,263 shares of the exchange traded fund’s stock worth $6,399,000 after buying an additional 182,872 shares in the last quarter. Finally, WealthCare Asset Management LLC acquired a new position in shares of ProShares Ultra Communication Services during the 4th quarter worth approximately $710,000.

ProShares Ultra Communication Services Trading Up 1.2%

Shares of LTL traded up $0.26 during midday trading on Friday, reaching $22.17. 1,579 shares of the stock were exchanged, compared to its average volume of 7,150. The company has a market capitalization of $5.99 million, a P/E ratio of 19.19 and a beta of 1.68. The company’s 50 day moving average is $24.62 and its two-hundred day moving average is $26.19. ProShares Ultra Communication Services has a 52 week low of $21.88 and a 52 week high of $29.67.

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.