ProShares Merger ETF (BATS:MRGR) Sees Large Growth in Short Interest

ProShares Merger ETF (BATS:MRGR) was the target of a large growth in short interest in the month of October. As of October 15th, there was short interest totaling 2,448 shares, a growth of 76.1% from the September 30th total of 1,390 shares. Currently, 1.0% of the shares of the company are short sold. Based on an average daily trading volume, of 1,308 shares, the short-interest ratio is presently 1.9 days.

ProShares Merger ETF Stock Performance

Shares of MRGR opened at $45.05 on Tuesday. The firm has a market cap of $11.26 million, a P/E ratio of 24.24 and a beta of 0.04. ProShares Merger ETF has a 52 week low of $44.37 and a 52 week high of $46.22. The firm’s 50-day simple moving average is $45.31 and its 200 day simple moving average is $45.19.

Hedge Funds Weigh In On ProShares Merger ETF

Several institutional investors and hedge funds have recently made changes to their positions in the company. Kestra Advisory Services LLC lifted its holdings in ProShares Merger ETF by 11.6% during the 1st quarter. Kestra Advisory Services LLC now owns 5,319 shares of the company’s stock worth $240,000 after purchasing an additional 553 shares during the last quarter. City Center Advisors LLC grew its holdings in ProShares Merger ETF by 24.0% in the 2nd quarter. City Center Advisors LLC now owns 7,541 shares of the company’s stock valued at $343,000 after buying an additional 1,460 shares in the last quarter. Syntegra Private Wealth Group LLC grew its holdings in ProShares Merger ETF by 52.9% in the 1st quarter. Syntegra Private Wealth Group LLC now owns 32,385 shares of the company’s stock valued at $1,460,000 after buying an additional 11,206 shares in the last quarter. Finally, Royal Bank of Canada increased its position in ProShares Merger ETF by 83.6% during the 1st quarter. Royal Bank of Canada now owns 38,550 shares of the company’s stock worth $1,738,000 after buying an additional 17,558 shares during the period.

About ProShares Merger ETF

The ProShares Merger ETF (MRGR) is an exchange-traded fund that is based on the S&P Merger Arbitrage index. The fund tracks an index of developed-market equities involved in merger deals, with long exposure to target firms and short exposure to acquiring firms. The fund is net long and hedges FX risk. MRGR was launched on Dec 11, 2012 and is managed by ProShares.