Short Interest in ProShares Online Retail ETF (NYSEARCA:ONLN) Drops By 61.0%

ProShares Online Retail ETF (NYSEARCA:ONLN) was the recipient of a large drop in short interest during the month of April. As of April 30th, there was short interest totaling 5,340 shares, a drop of 61.0% from the April 15th total of 13,688 shares. Approximately 0.5% of the shares of the company are sold short. Based on an average trading volume of 9,797 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On ProShares Online Retail ETF

A number of institutional investors have recently added to or reduced their stakes in ONLN. Wells Fargo & Company MN grew its holdings in ProShares Online Retail ETF by 11.2% during the 4th quarter. Wells Fargo & Company MN now owns 11,434 shares of the company’s stock valued at $677,000 after buying an additional 1,155 shares in the last quarter. HRT Financial LP purchased a new position in ProShares Online Retail ETF during the fourth quarter worth $1,047,000. LPL Financial LLC boosted its stake in shares of ProShares Online Retail ETF by 35.4% during the 4th quarter. LPL Financial LLC now owns 36,023 shares of the company’s stock worth $2,134,000 after purchasing an additional 9,414 shares during the period. Goldman Sachs Group Inc. grew its stake in shares of ProShares Online Retail ETF by 75.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 7,450 shares of the company’s stock valued at $441,000 after buying an additional 3,200 shares during the last quarter. Finally, GeoWealth Management LLC bought a new position in ProShares Online Retail ETF in the 3rd quarter valued at $441,000.

ProShares Online Retail ETF Stock Down 0.7%

Shares of ProShares Online Retail ETF stock traded down $0.43 during trading hours on Thursday, reaching $57.16. 3,234 shares of the stock traded hands, compared to its average volume of 10,481. The company has a 50 day moving average price of $56.14 and a 200 day moving average price of $58.03. The firm has a market capitalization of $65.73 million, a price-to-earnings ratio of 22.53 and a beta of 1.40. ProShares Online Retail ETF has a one year low of $46.91 and a one year high of $63.94.

About ProShares Online Retail ETF

The ProShares Online Retail ETF (ONLN) is an exchange-traded fund that is based on the ProShares Online Retail index. The fund tracks a global, modified market-cap weighted index of stocks issued by companies classified as online retailers. ONLN was launched on Jul 13, 2018 and is managed by ProShares.