ProShares Ultra SmallCap600 (NYSEARCA:SAA) Short Interest Up 132.2% in August

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 10,257 shares, an increase of 132.2% from the July 30th total of 4,418 shares. Based on an average trading volume of 3,683 shares, the days-to-cover ratio is presently 2.8 days. Currently, 1.3% of the company’s stock are short sold.

ProShares Ultra SmallCap600 Stock Down 1.8%

SAA stock traded down $0.67 during mid-day trading on Friday, reaching $36.05. 3,994 shares of the company traded hands, compared to its average volume of 5,595. The firm’s 50 day moving average price is $36.87 and its 200 day moving average price is $32.81. The stock has a market cap of $29.20 million, a price-to-earnings ratio of 15.32 and a beta of 2.03. ProShares Ultra SmallCap600 has a fifty-two week low of $22.57 and a fifty-two week high of $38.94.

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the stock. Bank of America Corp DE bought a new stake in ProShares Ultra SmallCap600 during the second quarter worth $129,000. Osaic Holdings Inc. boosted its holdings in ProShares Ultra SmallCap600 by 532.8% during the 2nd quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock worth $176,000 after acquiring an additional 6,702 shares during the last quarter. Finally, Corient Private Wealth LLC boosted its holdings in 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 acquiring an additional 4,439 shares during the last quarter.

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.