ProShares Ultra SmallCap600 (NYSEARCA:SAA) Short Interest Down 57.1% in July

ProShares Ultra SmallCap600 (NYSEARCA:SAA) was the recipient of a significant decline in short interest during the month of July. As of July 15th, there was short interest totaling 3,517 shares, a decline of 57.1% from the June 30th total of 8,202 shares. Based on an average daily volume of 5,432 shares, the days-to-cover ratio is presently 0.6 days. Approximately 0.4% of the shares of the stock are sold short.

Institutional Trading of ProShares Ultra SmallCap600

Several hedge funds have recently modified their holdings of SAA. Osaic Holdings Inc. boosted its position in shares of ProShares Ultra SmallCap600 by 532.8% during the 2nd quarter. Osaic Holdings Inc. now owns 7,960 shares of the company’s stock valued at $176,000 after acquiring an additional 6,702 shares during the last quarter. Corient Private Wealth LLC grew its holdings 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 in the last quarter. Finally, Bank of America Corp DE bought a new stake in ProShares Ultra SmallCap600 in the second quarter worth $129,000.

ProShares Ultra SmallCap600 Stock Performance

NYSEARCA:SAA opened at $35.99 on Monday. The business’s 50-day moving average is $35.00 and its 200 day moving average is $31.40. ProShares Ultra SmallCap600 has a 12 month low of $21.09 and a 12 month high of $38.39. The company has a market capitalization of $29.15 million, a P/E ratio of 15.32 and a beta of 2.01.

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.