Short Interest in ProShares UltraShort Utilities (NYSEARCA:SDP) Expands By 73.8%

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a significant growth in short interest in February. As of February 13th, there was short interest totaling 12,405 shares, a growth of 73.8% from the January 29th total of 7,139 shares. Currently, 6.5% of the shares of the stock are sold short. Based on an average daily volume of 20,400 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 20,400 shares, the days-to-cover ratio is currently 0.6 days. Currently, 6.5% of the shares of the stock are sold short.

ProShares UltraShort Utilities Price Performance

SDP stock traded down $0.24 during midday trading on Friday, reaching $10.03. The company had a trading volume of 15,980 shares, compared to its average volume of 12,233. ProShares UltraShort Utilities has a 1 year low of $10.00 and a 1 year high of $18.60. The firm has a 50-day moving average price of $11.90 and a 200-day moving average price of $12.13.

Institutional Investors Weigh In On ProShares UltraShort Utilities

An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC purchased a new position in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned about 45.58% of ProShares UltraShort Utilities as of its most recent SEC filing.

ProShares UltraShort Utilities Company Profile

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.