ProShares Ultra SmallCap600 (NYSEARCA:SAA) Short Interest Down 82.0% in June

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the target of a large drop in short interest during the month of June. As of June 15th, there was short interest totaling 832 shares, a drop of 82.0% from the May 31st total of 4,620 shares. Approximately 0.1% of the company’s shares are sold short. Based on an average daily trading volume, of 4,611 shares, the days-to-cover ratio is currently 0.2 days.

ProShares Ultra SmallCap600 Stock Performance

SAA stock opened at $36.78 on Friday. The company has a market capitalization of $29.79 million, a P/E ratio of 15.32 and a beta of 2.04. The company has a fifty day moving average price of $33.08 and a 200-day moving average price of $29.94. ProShares Ultra SmallCap600 has a 52-week low of $21.09 and a 52-week high of $37.13.

Institutional Investors Weigh In On ProShares Ultra SmallCap600

Several institutional investors and hedge funds have recently made changes to their positions in the stock. 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 worth $176,000 after acquiring an additional 6,702 shares during the period. Bank of America Corp DE acquired a new position in shares of ProShares Ultra SmallCap600 in the 2nd quarter worth approximately $129,000. Corient Private Wealth LLC boosted its stake in shares of ProShares Ultra SmallCap600 by 14.0% in the 2nd 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. Finally, LTG Capital LLC boosted its position in ProShares Ultra SmallCap600 by 0.8% during the third quarter. LTG Capital LLC now owns 358,427 shares of the company’s stock valued at $9,181,000 after acquiring an additional 2,720 shares during the last quarter.

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.