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

ProShares Ultra Health Care (NYSEARCA:RXL) was the target of a large decline in short interest in the month of August. As of August 14th, there was short interest totaling 1,886 shares, a decline of 96.0% from the July 30th total of 46,862 shares. Based on an average trading volume of 13,265 shares, the short-interest ratio is presently 0.1 days. Currently, 0.1% of the shares of the company are sold short.

ProShares Ultra Health Care Stock Down 2.0%

Shares of NYSEARCA:RXL traded down $1.24 during trading on Wednesday, hitting $62.43. 3,149 shares of the stock traded hands, compared to its average volume of 10,857. The company has a market cap of $95.51 million, a price-to-earnings ratio of 24.86 and a beta of 1.12. The company has a fifty day moving average price of $55.37 and a two-hundred day moving average price of $50.54. ProShares Ultra Health Care has a 52-week low of $39.32 and a 52-week high of $64.60.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of RXL. Susquehanna International Group LLP acquired a new position in ProShares Ultra Health Care in the 3rd quarter valued at $267,000. Csenge Advisory Group purchased a new stake in shares of ProShares Ultra Health Care during the fourth quarter worth $297,000. Osaic Holdings Inc. raised its position in shares of ProShares Ultra Health Care by 604.9% in the fourth quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock valued at $799,000 after buying an additional 13,242 shares during the last quarter. Finally, IMC Chicago LLC acquired a new stake in shares of ProShares Ultra Health Care in the first 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.