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

ProShares Ultra S&P500 (NYSEARCA:SSO) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 3,560,187 shares, an increase of 240.2% from the May 31st total of 1,046,501 shares. Based on an average daily trading volume, of 4,719,298 shares, the short-interest ratio is presently 0.8 days. Approximately 3.1% of the shares of the company are short sold.

ProShares Ultra S&P500 Stock Down 1.0%

Shares of SSO stock opened at $64.42 on Friday. The company has a market cap of $7.44 billion, a P/E ratio of 24.25 and a beta of 2.01. The business has a 50 day moving average of $65.73 and a two-hundred day moving average of $60.19. ProShares Ultra S&P500 has a 52 week low of $47.76 and a 52 week high of $70.13.

Hedge Funds Weigh In On ProShares Ultra S&P500

Several institutional investors have recently modified their holdings of SSO. Evolution Wealth Management Inc. increased its holdings in shares of ProShares Ultra S&P500 by 100.0% in the 4th quarter. Evolution Wealth Management Inc. now owns 630 shares of the real estate investment trust’s stock worth $36,000 after acquiring an additional 315 shares during the period. Western Wealth Management LLC acquired a new position in ProShares Ultra S&P500 during the 1st quarter valued at about $37,000. Park Square Financial Group LLC bought a new position in ProShares Ultra S&P500 in the 3rd quarter worth about $47,000. Tucker Asset Management LLC acquired a new stake in shares of ProShares Ultra S&P500 in the fourth quarter valued at approximately $49,000. Finally, Corsicana & Co. raised its holdings in shares of ProShares Ultra S&P500 by 100.0% during the fourth quarter. Corsicana & Co. now owns 920 shares of the real estate investment trust’s stock valued at $53,000 after buying an additional 460 shares during the last quarter.

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.