ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Sees Large Drop in Short Interest

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the target of a significant decline in short interest during the month of June. As of June 15th, there was short interest totaling 528 shares, a decline of 83.2% from the May 31st total of 3,146 shares. Approximately 0.6% of the company’s stock are sold short. Based on an average trading volume of 6,103 shares, the days-to-cover ratio is currently 0.1 days.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Performance

NASDAQ SKYU traded up $1.67 during trading hours on Friday, hitting $33.63. 4,333 shares of the company traded hands, compared to its average volume of 2,709. The business’s 50-day moving average is $34.78 and its 200-day moving average is $31.98. ProShares Ultra Nasdaq Cloud Computing ETF has a twelve month low of $22.55 and a twelve month high of $49.14. The stock has a market capitalization of $3.03 million, a price-to-earnings ratio of 29.23 and a beta of 2.51.

ProShares Ultra Nasdaq Cloud Computing ETF Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, June 30th. Stockholders of record on Wednesday, June 24th will be paid a dividend of $0.044 per share. The ex-dividend date is Wednesday, June 24th. This represents a $0.18 dividend on an annualized basis and a dividend yield of 0.5%.

About ProShares Ultra Nasdaq Cloud Computing ETF

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.