ProShares Ultra SmallCap600 (NYSEARCA:SAA) Sees Large Increase in Short Interest

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the target of a significant increase in short interest in the month of June. As of June 30th, there was short interest totaling 8,202 shares, an increase of 885.8% from the June 15th total of 832 shares. Based on an average trading volume of 10,113 shares, the days-to-cover ratio is presently 0.8 days. Currently, 1.0% of the shares of the company are short sold.

Institutional Trading of ProShares Ultra SmallCap600

Several hedge funds have recently modified their holdings of SAA. Bank of America Corp DE acquired a new position in ProShares Ultra SmallCap600 during the second quarter worth $129,000. Osaic Holdings Inc. lifted its holdings in ProShares Ultra SmallCap600 by 532.8% in the second quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after acquiring an additional 6,702 shares during the period. Corient Private Wealth LLC lifted its holdings in ProShares Ultra SmallCap600 by 14.0% in the second quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock valued at $798,000 after acquiring an additional 4,439 shares during the period. Finally, LTG Capital LLC boosted its position in shares of ProShares Ultra SmallCap600 by 0.8% during the 3rd quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock worth $9,181,000 after purchasing an additional 2,720 shares in the last quarter.

ProShares Ultra SmallCap600 Stock Performance

NYSEARCA:SAA traded up $0.02 during mid-day trading on Friday, reaching $36.40. The stock had a trading volume of 2,852 shares, compared to its average volume of 6,364. The firm has a market capitalization of $29.48 million, a price-to-earnings ratio of 15.32 and a beta of 2.01. ProShares Ultra SmallCap600 has a twelve month low of $21.09 and a twelve month high of $38.39. The business has a 50 day simple moving average of $34.21 and a 200 day simple moving average of $30.70.

ProShares Ultra SmallCap600 Company Profile

ProShares Ultra SmallCap600 (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the S&P SmallCap 600 Index (the Index). 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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.