ProShares Ultra S&P500 (NYSEARCA:SSO) Sees Large Growth in Short Interest

ProShares Ultra S&P500 (NYSEARCA:SSO) was the recipient of a large increase in short interest in January. As of January 15th, there was short interest totaling 1,936,704 shares, an increase of 28.6% from the December 31st total of 1,506,122 shares. Approximately 1.4% of the shares of the stock are sold short. Based on an average daily volume of 3,963,602 shares, the days-to-cover ratio is presently 0.5 days. Based on an average daily volume of 3,963,602 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.4% of the shares of the stock are sold short.

ProShares Ultra S&P500 Price Performance

NYSEARCA SSO traded up $0.62 during trading hours on Monday, reaching $59.91. The company’s stock had a trading volume of 4,459,343 shares, compared to its average volume of 4,088,841. The stock has a market cap of $8.24 billion, a P/E ratio of 24.25 and a beta of 2.01. The firm has a fifty day simple moving average of $58.66 and a 200-day simple moving average of $55.90. ProShares Ultra S&P500 has a 52 week low of $30.42 and a 52 week high of $60.37.

Hedge Funds Weigh In On ProShares Ultra S&P500

Several institutional investors have recently made changes to their positions in the stock. Howard Capital Management Inc. increased its stake in ProShares Ultra S&P500 by 100.0% during the 4th quarter. Howard Capital Management Inc. now owns 13,775,520 shares of the real estate investment trust’s stock valued at $797,878,000 after purchasing an additional 6,887,760 shares in the last quarter. Assetmark Inc. grew its position in shares of ProShares Ultra S&P500 by 110,080.6% during the 3rd quarter. Assetmark Inc. now owns 6,635,078 shares of the real estate investment trust’s stock valued at $743,991,000 after acquiring an additional 6,629,056 shares during the period. Main Street Group LTD increased its position in ProShares Ultra S&P500 by 101.6% in the fourth quarter. Main Street Group LTD now owns 1,207,033 shares of the real estate investment trust’s stock worth $69,911,000 after buying an additional 608,334 shares during the last quarter. TTP Investments Inc. raised its stake in ProShares Ultra S&P500 by 50.3% in the 4th quarter. TTP Investments Inc. now owns 618,759 shares of the real estate investment trust’s stock valued at $35,839,000 after acquiring an additional 207,045 shares during the period. Finally, Goldman Sachs Group Inc. purchased a new stake in shares of ProShares Ultra S&P500 during the 1st quarter valued at approximately $41,524,000.

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.