ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Up 112.3% in January

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a large growth in short interest in January. As of January 15th, there was short interest totaling 21,205 shares, a growth of 112.3% from the December 31st total of 9,990 shares. Approximately 5.4% of the company’s stock are short sold. Based on an average trading volume of 22,354 shares, the days-to-cover ratio is presently 0.9 days. Based on an average trading volume of 22,354 shares, the days-to-cover ratio is presently 0.9 days. Approximately 5.4% of the company’s stock are short sold.

ProShares UltraShort Financials Price Performance

SKF stock traded up $0.41 during trading hours on Friday, reaching $27.01. 17,102 shares of the stock were exchanged, compared to its average volume of 23,773. The firm’s 50-day moving average is $26.13 and its 200-day moving average is $27.14. ProShares UltraShort Financials has a 12 month low of $23.86 and a 12 month high of $44.19.

Institutional Investors Weigh In On ProShares UltraShort Financials

A hedge fund recently bought a new stake in ProShares UltraShort Financials stock. Group One Trading LLC purchased a new position in shares of ProShares UltraShort Financials (NYSEARCA:SKF) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 1,313 shares of the company’s stock, valued at approximately $37,000. Group One Trading LLC owned about 0.35% of ProShares UltraShort Financials as of its most recent SEC filing.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, 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, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.