ProShares Short Financials (NYSEARCA:SEF) Sees Large Increase in Short Interest

ProShares Short Financials (NYSEARCA:SEF) was the target of a significant growth in short interest during the month of March. As of March 13th, there was short interest totaling 104,434 shares, a growth of 408.4% from the February 26th total of 20,542 shares. Based on an average daily volume of 71,944 shares, the short-interest ratio is presently 1.5 days. Currently, 36.0% of the company’s stock are sold short.

ProShares Short Financials Stock Up 0.6%

NYSEARCA:SEF traded up $0.22 during mid-day trading on Thursday, reaching $34.28. The stock had a trading volume of 16,708 shares, compared to its average volume of 31,164. ProShares Short Financials has a 1-year low of $29.77 and a 1-year high of $40.06. The stock’s 50 day simple moving average is $32.69 and its two-hundred day simple moving average is $31.97.

ProShares Short Financials 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 given a $0.1103 dividend. The ex-dividend date is Wednesday, March 25th. This represents a $0.44 annualized dividend and a dividend yield of 1.3%.

Institutional Investors Weigh In On ProShares Short Financials

A hedge fund recently bought a new stake in ProShares Short Financials stock. Citadel Advisors LLC acquired a new position in shares of ProShares Short Financials (NYSEARCA:SEF) during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 8,046 shares of the company’s stock, valued at approximately $252,000. Citadel Advisors LLC owned 2.77% of ProShares Short Financials as of its most recent SEC filing.

ProShares Short Financials Company Profile

ProShares Short Financials (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services economic sector of the United States equity market. Component companies include regional banks; United States-domiciled international banks; 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 (Fannie Mae), credit card insurers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.