ProShares S&P 500 Ex-Technology ETF (NYSEARCA:SPXT) Sees Significant Decline in Short Interest

ProShares S&P 500 Ex-Technology ETF (NYSEARCA:SPXT) was the recipient of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 2,318 shares, a drop of 73.8% from the May 14th total of 8,848 shares. Currently, 0.1% of the company’s stock are sold short. Based on an average daily trading volume, of 12,676 shares, the short-interest ratio is currently 0.2 days.

ProShares S&P 500 Ex-Technology ETF Stock Performance

NYSEARCA:SPXT traded up $0.58 on Friday, hitting $107.91. The stock had a trading volume of 4,329 shares, compared to its average volume of 18,940. The stock has a market cap of $275.17 million, a P/E ratio of 22.39 and a beta of 0.86. ProShares S&P 500 Ex-Technology ETF has a 1 year low of $92.99 and a 1 year high of $109.18. The firm’s fifty day simple moving average is $106.88 and its two-hundred day simple moving average is $105.52.

Institutional Investors Weigh In On ProShares S&P 500 Ex-Technology ETF

Several institutional investors and hedge funds have recently added to or reduced their stakes in the company. Northwestern Mutual Wealth Management Co. purchased a new stake in shares of ProShares S&P 500 Ex-Technology ETF during the third quarter worth $30,000. Osaic Holdings Inc. lifted its position in shares of ProShares S&P 500 Ex-Technology ETF by 365.2% during the fourth quarter. Osaic Holdings Inc. now owns 1,470 shares of the company’s stock worth $153,000 after acquiring an additional 1,154 shares in the last quarter. Betterment LLC purchased a new stake in shares of ProShares S&P 500 Ex-Technology ETF during the fourth quarter worth $230,000. EP Wealth Advisors LLC bought a new position in ProShares S&P 500 Ex-Technology ETF in the 4th quarter valued at $239,000. Finally, CIBC Bancorp USA Inc. bought a new position in ProShares S&P 500 Ex-Technology ETF in the 3rd quarter valued at $240,000.

About ProShares S&P 500 Ex-Technology ETF

The ProShares S&P 500 ex-Technology ETF (SPXT) is an exchange-traded fund that is based on the S&P 500 Ex-Information Technology index, a market-cap-weighted index of US large-cap stocks, excluding firms in the technology sector. SPXT was launched on Sep 22, 2015 and is managed by ProShares.