Short Interest in ProShares UltraShort Financials (NYSEARCA:SKF) Declines By 23.7%

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a large decline in short interest during the month of February. As of February 13th, there was short interest totaling 22,528 shares, a decline of 23.7% from the January 29th total of 29,527 shares. Currently, 5.8% of the company’s stock are sold short. Based on an average daily trading volume, of 15,750 shares, the days-to-cover ratio is currently 1.4 days. Based on an average daily trading volume, of 15,750 shares, the days-to-cover ratio is currently 1.4 days. Currently, 5.8% of the company’s stock are sold short.

ProShares UltraShort Financials Trading Up 0.2%

NYSEARCA:SKF traded up $0.07 during mid-day trading on Tuesday, reaching $29.02. The stock had a trading volume of 102,567 shares, compared to its average volume of 28,294. The business’s 50 day moving average is $26.56 and its 200 day moving average is $27.04. ProShares UltraShort Financials has a fifty-two week low of $23.86 and a fifty-two week high of $44.19.

Institutional Investors Weigh In On ProShares UltraShort Financials

Institutional investors and hedge funds have recently modified their holdings of the business. Group One Trading LLC acquired a new position in ProShares UltraShort Financials during the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. boosted its stake in shares of ProShares UltraShort Financials by 20,938.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after acquiring an additional 6,491 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its holdings in shares of ProShares UltraShort Financials by 907.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock valued at $388,000 after acquiring an additional 12,466 shares during the last quarter.

ProShares UltraShort Financials Company Profile

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.