ProShares Ultra Health Care (NYSEARCA:RXL) Sees Large Decrease in Short Interest

ProShares Ultra Health Care (NYSEARCA:RXL) saw a large drop in short interest in the month of September. As of September 15th, there was short interest totaling 11,546 shares, a drop of 67.6% from the August 31st total of 35,590 shares. Currently, 0.7% of the company’s stock are short sold. Based on an average daily volume of 12,215 shares, the days-to-cover ratio is presently 0.9 days.

ProShares Ultra Health Care Trading Down 1.0%

ProShares Ultra Health Care stock traded down $0.64 on Tuesday, hitting $59.99. 2,959 shares of the stock traded hands, compared to its average volume of 11,259. ProShares Ultra Health Care has a 1 year low of $40.56 and a 1 year high of $64.60. The firm has a market cap of $100.19 million, a P/E ratio of 24.86 and a beta of 1.12. The business’s fifty day simple moving average is $58.66 and its 200 day simple moving average is $51.72.

Hedge Funds Weigh In On ProShares Ultra Health Care

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Envestnet Asset Management Inc. boosted its stake in shares of ProShares Ultra Health Care by 2.0% in the 2nd quarter. Envestnet Asset Management Inc. now owns 10,859 shares of the company’s stock worth $576,000 after buying an additional 212 shares during the last quarter. Citadel Advisors LLC grew its stake in shares of ProShares Ultra Health Care by 12.7% during the 2nd quarter. Citadel Advisors LLC now owns 9,273 shares of the company’s stock valued at $492,000 after purchasing an additional 1,042 shares during the period. Finally, IMC Chicago LLC purchased a new stake in shares of ProShares Ultra Health Care during the 1st quarter valued at about $3,103,000.

About ProShares Ultra Health Care

ProShares Ultra Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Health Care 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.