ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Up 224.6% in August

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a large growth in short interest in the month of August. As of August 31st, there was short interest totaling 6,077 shares, a growth of 224.6% from the August 15th total of 1,872 shares. Approximately 3.4% of the company’s shares are short sold. Based on an average daily volume of 4,641 shares, the short-interest ratio is currently 1.3 days.

ProShares UltraShort Utilities Stock Performance

Shares of NYSEARCA:SDP traded up $0.48 during trading on Monday, reaching $25.20. 2,807 shares of the company traded hands, compared to its average volume of 5,823. ProShares UltraShort Utilities has a 52-week low of $19.78 and a 52-week high of $26.77. The business’s fifty day moving average is $22.77 and its 200-day moving average is $22.06.

ProShares UltraShort Utilities Company Profile

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities 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.