ProShares UltraShort Technology (NYSEARCA:REW) Shares Shorted: Short Interest Down 64.9% in September

ProShares UltraShort Technology (NYSEARCA:REW) saw a large drop in short interest during the month of September. As of September 30th, there was short interest totaling 20,491 shares, a drop of 64.9% from the September 15th total of 58,320 shares. Based on an average daily volume of 40,902 shares, the days-to-cover ratio is currently 0.5 days. Approximately 5.4% of the shares of the company are sold short.

Hedge Funds Weigh In On ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new stake in ProShares UltraShort Technology (NYSEARCA:REW) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned 2.34% of ProShares UltraShort Technology as of its most recent filing with the Securities and Exchange Commission.

ProShares UltraShort Technology Trading Up 2.6%

Shares of NYSEARCA:REW traded up $0.27 during trading on Monday, reaching $10.29. The company had a trading volume of 10,588 shares, compared to its average volume of 31,853. The stock’s fifty day moving average price is $11.17 and its 200 day moving average price is $13.91. ProShares UltraShort Technology has a fifty-two week low of $9.60 and a fifty-two week high of $27.67.

ProShares UltraShort Technology Company Profile

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.