ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) Sees Large Decrease in Short Interest

ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) was the target of a significant drop in short interest in the month of July. As of July 31st, there was short interest totaling 2,013 shares, a drop of 43.5% from the July 15th total of 3,562 shares. Based on an average daily trading volume, of 3,054 shares, the days-to-cover ratio is currently 0.7 days. Currently, 0.5% of the company’s stock are sold short.

ProShares UltraShort MidCap 400 Price Performance

ProShares UltraShort MidCap 400 stock opened at $5.69 on Wednesday. ProShares UltraShort MidCap 400 has a 12 month low of $5.55 and a 12 month high of $9.08. The business’s fifty day simple moving average is $5.91 and its two-hundred day simple moving average is $6.51.

Hedge Funds Weigh In On ProShares UltraShort MidCap 400

A hedge fund recently raised its position in ProShares UltraShort MidCap 400 stock. Tower Research Capital LLC TRC increased its holdings in ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) by 6.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,882 shares of the company’s stock after buying an additional 1,354 shares during the quarter. Tower Research Capital LLC TRC owned 16.34% of ProShares UltraShort MidCap 400 worth $210,000 at the end of the most recent reporting period.

About ProShares UltraShort MidCap 400

ProShares UltraShort MidCap400 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P MidCap 400 Index (the Index). The Index is a measure of mid-size company United States stock market performance. It is a float-adjusted market capitalization weighted index of 400 United States operating companies and real estate investment trusts (REITs). Securities are selected for inclusion in the Index by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.