ProShares Ultra S&P500 (NYSEARCA:SSO) Short Interest Down 35.7% in August

ProShares Ultra S&P500 (NYSEARCA:SSO) saw a significant drop in short interest in August. As of August 31st, there was short interest totaling 1,183,275 shares, a drop of 35.7% from the August 15th total of 1,840,225 shares. Based on an average daily volume of 2,977,766 shares, the short-interest ratio is currently 0.4 days. Currently, 1.0% of the company’s stock are sold short.

ProShares Ultra S&P500 Price Performance

NYSEARCA:SSO traded down $0.34 on Friday, reaching $68.94. 824,478 shares of the company’s stock were exchanged, compared to its average volume of 3,926,758. The firm has a market cap of $8.29 billion, a price-to-earnings ratio of 24.25 and a beta of 2.01. The stock has a fifty day simple moving average of $69.21 and a 200-day simple moving average of $64.48. ProShares Ultra S&P500 has a 52 week low of $48.63 and a 52 week high of $72.80.

Institutional Investors Weigh In On ProShares Ultra S&P500

Institutional investors have recently made changes to their positions in the business. Pinkerton Wealth LLC raised its position in ProShares Ultra S&P500 by 118.6% during the 4th quarter. Pinkerton Wealth LLC now owns 677,536 shares of the real estate investment trust’s stock valued at $39,243,000 after purchasing an additional 367,655 shares during the last quarter. Client First Investment Management LLC raised its holdings in shares of ProShares Ultra S&P500 by 361.3% during the second quarter. Client First Investment Management LLC now owns 544,551 shares of the real estate investment trust’s stock valued at $36,692,000 after acquiring an additional 426,494 shares in the last quarter. Revere Asset Management Inc lifted its stake in ProShares Ultra S&P500 by 75.7% in the fourth quarter. Revere Asset Management Inc now owns 508,989 shares of the real estate investment trust’s stock worth $29,481,000 after acquiring an additional 219,283 shares during the period. Ridgepath Capital Management LLC boosted its holdings in ProShares Ultra S&P500 by 4.1% in the first quarter. Ridgepath Capital Management LLC now owns 370,104 shares of the real estate investment trust’s stock valued at $19,201,000 after acquiring an additional 14,667 shares in the last quarter. Finally, HighTower Advisors LLC increased its position in ProShares Ultra S&P500 by 108.2% during the 4th quarter. HighTower Advisors LLC now owns 342,979 shares of the real estate investment trust’s stock valued at $19,865,000 after purchasing an additional 178,274 shares during the period.

ProShares Ultra S&P500 Company Profile

ProShares Ultra S&P500 (the Fund), formerly Ultra S&P500 ProShares, seeks daily investment results that correspond to twice (200%) the daily performance of the S&P 500 Index. The S&P 500 Index is a measure of large-cap United States stock market performance. It is a float-adjusted market capitalization weighted index of 500 United States operating companies and real estate investment trusts (REITs) selected by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.