ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Shares Shorted: Short Interest Up 428.3% in September

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the target of a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 1,754 shares, an increase of 428.3% from the August 31st total of 332 shares. Approximately 1.5% of the shares of the stock are short sold. Based on an average trading volume of 18,361 shares, the short-interest ratio is presently 0.1 days.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Performance

Shares of SKYU stock opened at $53.93 on Friday. The stock has a fifty day moving average price of $47.52 and a 200 day moving average price of $37.78. The stock has a market cap of $6.47 million, a PE ratio of 29.23 and a beta of 2.54. ProShares Ultra Nasdaq Cloud Computing ETF has a 1 year low of $22.55 and a 1 year high of $55.90.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares Ultra Nasdaq Cloud Computing ETF stock. Citadel Advisors LLC boosted its holdings in ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) by 156.7% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,506 shares of the company’s stock after acquiring an additional 23,506 shares during the period. Citadel Advisors LLC owned 9.45% of ProShares Ultra Nasdaq Cloud Computing ETF worth $308,000 as of its most recent filing with the Securities and Exchange Commission.

About ProShares Ultra Nasdaq Cloud Computing ETF

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.