ProShares Ultra S&P500 (SSO) Sees Large Decline in Short Interest

ProShares Ultra S&P500 (NYSEARCA:SSO) was the target of a large decline in short interest in February. As of February 28th, there was short interest totalling 351,644 shares, a decline of 43.0% from the February 15th total of 617,103 shares. Based on an average daily trading volume, of 1,248,175 shares, the short-interest ratio is presently 0.3 days.

Hedge funds have recently added to or reduced their stakes in the business. Sowell Financial Services LLC purchased a new stake in ProShares Ultra S&P500 during the 4th quarter valued at about $1,003,000. Millennium Management LLC purchased a new stake in ProShares Ultra S&P500 during the 4th quarter valued at about $1,328,000. Bray Capital Advisors grew its position in ProShares Ultra S&P500 by 7.0% during the 4th quarter. Bray Capital Advisors now owns 14,315 shares of the real estate investment trust’s stock valued at $1,329,000 after purchasing an additional 935 shares during the last quarter. Thrivent Financial for Lutherans grew its position in ProShares Ultra S&P500 by 199.3% during the 4th quarter. Thrivent Financial for Lutherans now owns 286,564 shares of the real estate investment trust’s stock valued at $26,599,000 after purchasing an additional 190,834 shares during the last quarter. Finally, Northern Oak Wealth Management Inc. grew its position in ProShares Ultra S&P500 by 135.0% during the 4th quarter. Northern Oak Wealth Management Inc. now owns 14,158 shares of the real estate investment trust’s stock valued at $1,314,000 after purchasing an additional 8,133 shares during the last quarter.

SSO stock opened at $116.97 on Thursday. ProShares Ultra S&P500 has a one year low of $81.39 and a one year high of $129.98.

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 27th. Shareholders of record on Thursday, March 21st will be paid a $0.2202 dividend. The ex-dividend date of this dividend is Wednesday, March 20th. This represents a $0.88 dividend on an annualized basis and a yield of 0.75%.

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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.

See Also: What is the Difference Between Common Shares and Convertible Shares?

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