ProShares Ultra Communication Services (LTL)
ProShares Ultra Communication Services operates in the Asset Management industry of the Financial Services sector, headquartered in Bethesda, MD, US. The stock last traded at $23.80, down 1.58% on the session, giving a market capitalisation of $13.1M. Its beta of 1.69 implies it has historically moved more than the broad market.
LTL provides 2x leveraged exposure to the Dow Jones US Select Telecommunications Index, a market-cap-weighted index of US telecom companies. Specifically, it holds a concentrated portfolio of firms involved in fixed line (regional and long-distance) and mobile telephone services (cellular, satellite, and paging). As a geared product with 2x factor that rebalances daily, LTL is not a buy-and-hold ETF, its a short-term tactical instrument. As a result, long-term returns can vary significantly from those of the underlying index due to daily compounding. Prior to March 20, 2023, the fund was called ProShares Ultra Telecommunications that tracked the Dow Jones U.S. Select Telecommunications Index.
ProShares Ultra Communication Services is most often compared with the following Financial Services names: