ProShares Merger ETF (BATS:MRGR) Stock Short Interest Climbs 76.1%

ProShares Merger ETF (BATS:MRGR) was the target of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 2,448 shares, a growth of 76.1% from the September 30th total of 1,390 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,308 shares, the short-interest ratio is currently 1.9 days.

Hedge Funds Weigh In On ProShares Merger ETF

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. City Center Advisors LLC raised its position in shares of ProShares Merger ETF by 22.4% during the third quarter. City Center Advisors LLC now owns 9,231 shares of the company’s stock worth $414,000 after purchasing an additional 1,690 shares during the period. Royal Bank of Canada lifted its position in shares of ProShares Merger ETF by 83.6% in the first quarter. Royal Bank of Canada now owns 38,550 shares of the company’s stock valued at $1,738,000 after buying an additional 17,558 shares during the last quarter. Kestra Advisory Services LLC increased its holdings in shares of ProShares Merger ETF by 11.6% in the first quarter. Kestra Advisory Services LLC now owns 5,319 shares of the company’s stock valued at $240,000 after purchasing an additional 553 shares during the last quarter. Finally, Syntegra Private Wealth Group LLC boosted its holdings in shares of ProShares Merger ETF by 52.9% during the 1st quarter. Syntegra Private Wealth Group LLC now owns 32,385 shares of the company’s stock worth $1,460,000 after buying an additional 11,206 shares during the period.

ProShares Merger ETF Price Performance

ProShares Merger ETF stock opened at $45.45 on Friday. The business has a 50 day simple moving average of $45.32 and a 200 day simple moving average of $45.18. ProShares Merger ETF has a one year low of $44.37 and a one year high of $46.22. The company has a market capitalization of $11.36 million, a PE ratio of 24.24 and a beta of 0.04.

About ProShares Merger ETF

The ProShares Merger ETF (MRGR) is an exchange-traded fund that is based on the S&P Merger Arbitrage index. The fund tracks an index of developed-market equities involved in merger deals, with long exposure to target firms and short exposure to acquiring firms. The fund is net long and hedges FX risk. MRGR was launched on Dec 11, 2012 and is managed by ProShares.