ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Down 37.9% in January

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a large decline in short interest during the month of January. As of January 30th, there was short interest totaling 7,139 shares, a decline of 37.9% from the January 15th total of 11,495 shares. Approximately 3.8% of the shares of the company are sold short. Based on an average daily volume of 4,815 shares, the days-to-cover ratio is presently 1.5 days. Based on an average daily volume of 4,815 shares, the days-to-cover ratio is presently 1.5 days. Approximately 3.8% of the shares of the company are sold short.

Institutional Trading of ProShares UltraShort Utilities

A hedge fund recently bought a new stake in ProShares UltraShort Utilities stock. IMC Chicago LLC bought a new position in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned about 45.58% of ProShares UltraShort Utilities at the end of the most recent reporting period.

ProShares UltraShort Utilities Trading Down 5.3%

Shares of NYSEARCA:SDP traded down $0.59 during trading on Friday, hitting $10.56. The stock had a trading volume of 36,793 shares, compared to its average volume of 10,150. ProShares UltraShort Utilities has a 12-month low of $10.50 and a 12-month high of $18.60. The stock has a 50-day simple moving average of $12.36 and a two-hundred day simple moving average of $12.28.

About ProShares UltraShort Utilities

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.