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

ProShares Ultra SmallCap600 (NYSEARCA:SAA) saw a large drop in short interest during the month of December. As of December 31st, there was short interest totaling 997 shares, a drop of 89.5% from the December 15th total of 9,465 shares. Based on an average daily trading volume, of 6,255 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the shares of the company are sold short. Currently, 0.1% of the shares of the company are sold short. Based on an average daily trading volume, of 6,255 shares, the days-to-cover ratio is currently 0.2 days.

ProShares Ultra SmallCap600 Stock Up 1.3%

Shares of NYSEARCA:SAA traded up $0.38 during trading on Wednesday, hitting $28.79. 1,842 shares of the company traded hands, compared to its average volume of 4,082. The stock has a market capitalization of $23.90 million, a price-to-earnings ratio of 15.32 and a beta of 2.18. ProShares Ultra SmallCap600 has a one year low of $15.22 and a one year high of $28.80. The business’s fifty day moving average is $26.20 and its 200-day moving average is $25.12.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of SAA. LTG Capital LLC raised its stake in ProShares Ultra SmallCap600 by 0.8% during the 3rd quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock valued at $9,181,000 after purchasing an additional 2,720 shares during the period. Corient Private Wealth LLC grew its position in shares of ProShares Ultra SmallCap600 by 14.0% in the second quarter. Corient Private Wealth LLC now owns 36,065 shares of the company’s stock valued at $798,000 after purchasing an additional 4,439 shares during the last quarter. Bank of America Corp DE bought a new position in ProShares Ultra SmallCap600 during the second quarter worth $129,000. Finally, Osaic Holdings Inc. lifted its stake in shares of ProShares Ultra SmallCap600 by 532.8% in the second 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 during the period.

About ProShares Ultra SmallCap600

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.