ProShares Ultra Health Care (NYSEARCA:RXL) Short Interest Update

ProShares Ultra Health Care (NYSEARCA:RXL) saw a large increase in short interest in the month of August. As of August 31st, there was short interest totaling 35,590 shares, an increase of 1,787.1% from the August 15th total of 1,886 shares. Based on an average daily volume of 22,606 shares, the days-to-cover ratio is currently 1.6 days. Currently, 2.3% of the shares of the stock are sold short.

ProShares Ultra Health Care Price Performance

Shares of RXL traded down $0.16 during midday trading on Friday, reaching $56.43. The stock had a trading volume of 3,941 shares, compared to its average volume of 11,659. ProShares Ultra Health Care has a 52 week low of $39.32 and a 52 week high of $64.60. The firm’s 50 day moving average price is $57.62 and its 200-day moving average price is $51.21. The company has a market capitalization of $86.34 million, a P/E ratio of 24.86 and a beta of 1.12.

Institutional Investors Weigh In On ProShares Ultra Health Care

Several hedge funds and other institutional investors have recently bought and sold shares of the business. Susquehanna International Group LLP bought a new position in shares of ProShares Ultra Health Care during the 3rd quarter valued at about $267,000. Csenge Advisory Group acquired a new stake in ProShares Ultra Health Care during the fourth quarter valued at approximately $297,000. Citadel Advisors LLC lifted its stake in ProShares Ultra Health Care by 12.7% during the second 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 last quarter. Osaic Holdings Inc. boosted its holdings in ProShares Ultra Health Care by 604.9% during the fourth quarter. Osaic Holdings Inc. now owns 15,431 shares of the company’s stock worth $799,000 after buying an additional 13,242 shares in the last quarter. Finally, IMC Chicago LLC bought a new stake in ProShares Ultra Health Care during the first quarter worth approximately $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.