ProShares UltraShort Financials (NYSEARCA:SKF) Sees Significant Increase in Short Interest

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a large growth in short interest in the month of April. As of April 30th, there was short interest totaling 6,253 shares, a growth of 134.1% from the April 15th total of 2,671 shares. Approximately 1.1% of the shares of the company are sold short. Based on an average trading volume of 30,584 shares, the short-interest ratio is presently 0.2 days.

ProShares UltraShort Financials Trading Up 0.7%

NYSEARCA:SKF traded up $0.19 during trading hours on Friday, reaching $28.92. The company had a trading volume of 19,914 shares, compared to its average volume of 35,611. ProShares UltraShort Financials has a 52 week low of $23.86 and a 52 week high of $33.06. The firm’s 50 day moving average price is $29.57 and its 200-day moving average price is $27.88.

Institutional Investors Weigh In On ProShares UltraShort Financials

Institutional investors have recently added to or reduced their stakes in the stock. Group One Trading LLC bought a new position in shares of ProShares UltraShort Financials during the 2nd quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. lifted its holdings in shares of ProShares UltraShort Financials by 20,938.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after buying an additional 6,491 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in ProShares UltraShort Financials by 907.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock valued at $388,000 after acquiring an additional 12,466 shares in the last quarter.

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.