ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Significant Decline in Short Interest

ProShares Ultra S&P500 (NYSEARCA:SSO) was the recipient of a significant decline in short interest during the month of August. As of August 31st, there was short interest totaling 1,183,275 shares, a decline of 35.7% from the August 15th total of 1,840,225 shares. Based on an average daily volume of 2,977,766 shares, the days-to-cover ratio is currently 0.4 days. Currently, 1.0% of the company’s stock are short sold.

ProShares Ultra S&P500 Stock Performance

Shares of SSO traded up $1.52 during mid-day trading on Thursday, hitting $69.29. 2,397,968 shares of the company traded hands, compared to its average volume of 3,943,661. The stock has a market cap of $8.33 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01. The stock has a 50-day moving average price of $69.19 and a two-hundred day moving average price of $64.40. ProShares Ultra S&P500 has a 1 year low of $48.63 and a 1 year high of $72.80.

Hedge Funds Weigh In On ProShares Ultra S&P500

A number of institutional investors have recently bought and sold shares of SSO. Pinkerton Wealth LLC lifted its position in ProShares Ultra S&P500 by 118.6% during the fourth quarter. Pinkerton Wealth LLC now owns 677,536 shares of the real estate investment trust’s stock valued at $39,243,000 after purchasing an additional 367,655 shares in the last quarter. Client First Investment Management LLC lifted its position in shares of ProShares Ultra S&P500 by 361.3% during the 2nd quarter. Client First Investment Management LLC now owns 544,551 shares of the real estate investment trust’s stock valued at $36,692,000 after buying an additional 426,494 shares in the last quarter. Revere Asset Management Inc grew its stake in shares of ProShares Ultra S&P500 by 75.7% during the 4th quarter. Revere Asset Management Inc now owns 508,989 shares of the real estate investment trust’s stock valued at $29,481,000 after acquiring an additional 219,283 shares during the period. Ridgepath Capital Management LLC increased its holdings in ProShares Ultra S&P500 by 4.1% in the 1st quarter. Ridgepath Capital Management LLC now owns 370,104 shares of the real estate investment trust’s stock worth $19,201,000 after acquiring an additional 14,667 shares in the last quarter. Finally, HighTower Advisors LLC raised its stake in ProShares Ultra S&P500 by 108.2% during the 4th quarter. HighTower Advisors LLC now owns 342,979 shares of the real estate investment trust’s stock worth $19,865,000 after acquiring an additional 178,274 shares during the period.

About ProShares Ultra S&P500

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.