ProShares Short High Yield (NYSEARCA:SJB) Sees Significant Decline in Short Interest

ProShares Short High Yield (NYSEARCA:SJB) was the recipient of a large decrease in short interest in the month of April. As of April 30th, there was short interest totaling 11,737 shares, a decrease of 36.6% from the April 15th total of 18,516 shares. Based on an average trading volume of 219,240 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.2% of the company’s shares are sold short.

ProShares Short High Yield Trading Up 0.2%

Shares of SJB traded up $0.04 during trading hours on Tuesday, hitting $15.47. 450,500 shares of the stock were exchanged, compared to its average volume of 331,486. ProShares Short High Yield has a fifty-two week low of $15.18 and a fifty-two week high of $16.10. The business has a 50-day moving average of $15.41 and a 200-day moving average of $15.37.

Institutional Inflows and Outflows

Several hedge funds have recently made changes to their positions in the business. BNP Paribas Financial Markets acquired a new stake in ProShares Short High Yield in the second quarter worth $135,000. Merkkuri Wealth Advisors LLC acquired a new stake in ProShares Short High Yield in the first quarter worth $147,000. Private Advisor Group LLC acquired a new stake in ProShares Short High Yield in the first quarter worth $155,000. Simplex Trading LLC grew its holdings in ProShares Short High Yield by 1,673.5% in the fourth quarter. Simplex Trading LLC now owns 10,162 shares of the company’s stock worth $155,000 after purchasing an additional 9,589 shares during the period. Finally, Bravias Capital Group LLC acquired a new stake in ProShares Short High Yield in the first quarter worth $162,000.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.