ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Update

ProShares UltraShort Financials (NYSEARCA:SKF) saw a large decline in short interest in the month of February. As of February 13th, there was short interest totaling 22,528 shares, a decline of 23.7% from the January 29th total of 29,527 shares. Based on an average daily volume of 15,750 shares, the days-to-cover ratio is currently 1.4 days. Currently, 5.8% of the company’s stock are short sold. Currently, 5.8% of the company’s stock are short sold. Based on an average daily volume of 15,750 shares, the days-to-cover ratio is currently 1.4 days.

Hedge Funds Weigh In On ProShares UltraShort Financials

Several institutional investors and hedge funds have recently bought and sold shares of the business. Group One Trading LLC acquired a new position in shares of ProShares UltraShort Financials in the 2nd quarter valued at about $37,000. Northwestern Mutual Wealth Management Co. grew its position in ProShares UltraShort Financials by 20,938.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock valued at $166,000 after purchasing an additional 6,491 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its position in ProShares UltraShort Financials by 907.3% during the second quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock valued at $388,000 after purchasing an additional 12,466 shares in the last quarter.

ProShares UltraShort Financials Stock Performance

Shares of ProShares UltraShort Financials stock traded down $0.33 during midday trading on Wednesday, hitting $28.69. The company’s stock had a trading volume of 47,444 shares, compared to its average volume of 28,749. ProShares UltraShort Financials has a 1-year low of $23.86 and a 1-year high of $44.19. The stock has a 50-day simple moving average of $26.64 and a 200-day simple moving average of $27.05.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.