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

ProShares Ultra SmallCap600 (NYSEARCA:SAA) saw a large growth in short interest in the month of January. As of January 15th, there was short interest totaling 1,611 shares, a growth of 61.6% from the December 31st total of 997 shares. Based on an average trading volume of 4,497 shares, the days-to-cover ratio is currently 0.4 days. Currently, 0.2% of the company’s shares are sold short. Currently, 0.2% of the company’s shares are sold short. Based on an average trading volume of 4,497 shares, the days-to-cover ratio is currently 0.4 days.

ProShares Ultra SmallCap600 Stock Performance

Shares of SAA traded up $0.57 during mid-day trading on Monday, hitting $29.13. 928 shares of the company’s stock were exchanged, compared to its average volume of 4,709. The company has a market cap of $24.18 million, a price-to-earnings ratio of 15.32 and a beta of 2.18. ProShares Ultra SmallCap600 has a fifty-two week low of $15.22 and a fifty-two week high of $30.81. The stock’s 50-day moving average is $27.39 and its 200-day moving average is $25.64.

Hedge Funds Weigh In On ProShares Ultra SmallCap600

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. LTG Capital LLC raised 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 acquiring an additional 2,720 shares in the last quarter. Corient Private Wealth LLC lifted its position in shares of ProShares Ultra SmallCap600 by 14.0% during the 2nd quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock worth $798,000 after buying an additional 4,439 shares during the last quarter. Osaic Holdings Inc. boosted its holdings in shares of ProShares Ultra SmallCap600 by 532.8% in the 2nd quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after buying an additional 6,702 shares in the last quarter. Finally, Bank of America Corp DE purchased a new position in shares of ProShares Ultra SmallCap600 in the 2nd quarter valued at $129,000.

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.