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

ProShares Ultra Health Care (NYSEARCA:RXL) was the target of a significant growth in short interest in the month of December. As of December 15th, there was short interest totaling 17,215 shares, a growth of 30.6% from the November 30th total of 13,181 shares. Currently, 1.1% of the shares of the company are sold short. Based on an average daily volume of 34,119 shares, the short-interest ratio is currently 0.5 days. Based on an average daily volume of 34,119 shares, the short-interest ratio is currently 0.5 days. Currently, 1.1% of the shares of the company are sold short.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the company. Susquehanna International Group LLP bought a new stake in shares of ProShares Ultra Health Care during the 3rd quarter worth $267,000. Steward Partners Investment Advisory LLC raised its position in shares of ProShares Ultra Health Care by 50.0% during the second quarter. Steward Partners Investment Advisory LLC now owns 900 shares of the company’s stock worth $37,000 after purchasing an additional 300 shares during the period. Finally, Envestnet Asset Management Inc. purchased a new stake in shares of ProShares Ultra Health Care during the second quarter valued at $468,000.

ProShares Ultra Health Care Stock Performance

RXL stock traded down $0.03 during midday trading on Tuesday, hitting $52.49. 6,154 shares of the stock were exchanged, compared to its average volume of 11,782. ProShares Ultra Health Care has a fifty-two week low of $36.23 and a fifty-two week high of $55.44. The stock’s 50-day moving average price is $49.92 and its 200-day moving average price is $44.24. The stock has a market cap of $83.98 million, a price-to-earnings ratio of 24.86 and a beta of 1.28.

ProShares Ultra Health Care Company Profile

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.