Short Interest in ProShares UltraShort Financials (NYSEARCA:SKF) Expands By 87.2%

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a large growth in short interest in the month of June. As of June 30th, there was short interest totaling 6,354 shares, a growth of 87.2% from the June 15th total of 3,395 shares. Currently, 1.5% of the shares of the company are short sold. Based on an average daily trading volume, of 13,330 shares, the short-interest ratio is presently 0.5 days.

ProShares UltraShort Financials Stock Down 0.6%

SKF traded down $0.15 on Thursday, reaching $23.26. The company had a trading volume of 11,661 shares, compared to its average volume of 29,841. ProShares UltraShort Financials has a fifty-two week low of $23.22 and a fifty-two week high of $33.06. The company’s fifty day moving average is $26.75 and its 200 day moving average is $27.65.

Hedge Funds Weigh In On ProShares UltraShort Financials

Institutional investors and hedge funds have recently made changes to their positions in the company. Tower Research Capital LLC TRC increased its stake in shares of ProShares UltraShort Financials by 72.8% during the third quarter. Tower Research Capital LLC TRC now owns 23,913 shares of the company’s stock worth $633,000 after purchasing an additional 10,073 shares during the period. Northwestern Mutual Wealth Management Co. boosted its stake in ProShares UltraShort Financials by 20,938.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock valued at $166,000 after purchasing an additional 6,491 shares during the period. Finally, Group One Trading LLC bought a new stake in ProShares UltraShort Financials in the 2nd quarter valued at $37,000.

ProShares UltraShort Financials Company Profile

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.