ProShares Short SmallCap600 (NYSEARCA:SBB) Sees Significant Growth in Short Interest

ProShares Short SmallCap600 (NYSEARCA:SBB) saw a large growth in short interest in the month of March. As of March 13th, there was short interest totaling 7,260 shares, a growth of 6,105.1% from the February 26th total of 117 shares. Based on an average trading volume of 13,876 shares, the days-to-cover ratio is currently 0.5 days. Currently, 1.8% of the shares of the company are short sold.

ProShares Short SmallCap600 Price Performance

NYSEARCA:SBB opened at $13.16 on Thursday. ProShares Short SmallCap600 has a 12-month low of $12.38 and a 12-month high of $18.64. The stock’s 50 day simple moving average is $12.88 and its 200-day simple moving average is $13.46.

ProShares Short SmallCap600 Cuts Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be paid a $0.0749 dividend. This represents a $0.30 annualized dividend and a dividend yield of 2.3%. The ex-dividend date is Wednesday, March 25th.

Hedge Funds Weigh In On ProShares Short SmallCap600

A hedge fund recently bought a new stake in ProShares Short SmallCap600 stock. Susquehanna International Group LLP acquired a new position in ProShares Short SmallCap600 (NYSEARCA:SBB) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,446 shares of the exchange traded fund’s stock, valued at approximately $339,000. Susquehanna International Group LLP owned approximately 7.64% of ProShares Short SmallCap600 as of its most recent SEC filing.

About ProShares Short SmallCap600

ProShares Short SmallCap600 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P SmallCap 600 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.