ProShares UltraShort Health Care (NYSEARCA:RXD – Get Free Report) was the recipient of a significant growth in short interest in the month of August. As of August 31st, there was short interest totaling 2,502 shares, a growth of 252.9% from the August 15th total of 709 shares. Approximately 1.3% of the shares of the stock are sold short. Based on an average daily volume of 13,746 shares, the short-interest ratio is presently 0.2 days.
ProShares UltraShort Health Care Stock Up 0.3%
Shares of RXD stock traded up $0.05 during mid-day trading on Friday, hitting $15.65. 1,861 shares of the stock traded hands, compared to its average volume of 7,683. ProShares UltraShort Health Care has a twelve month low of $13.78 and a twelve month high of $24.43. The company’s 50-day simple moving average is $15.51 and its 200-day simple moving average is $18.06.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in ProShares UltraShort Health Care stock. IMC Chicago LLC purchased a new position in ProShares UltraShort Health Care (NYSEARCA:RXD – Free Report) during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund purchased 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned approximately 4.29% of ProShares UltraShort Health Care at the end of the most recent quarter.
About ProShares UltraShort Health Care
ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care 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.
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