ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Short Interest Down 41.1% in April

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the target of a significant drop in short interest during the month of April. As of April 30th, there was short interest totaling 3,007 shares, a drop of 41.1% from the April 15th total of 5,108 shares. Based on an average daily trading volume, of 2,473 shares, the days-to-cover ratio is currently 1.2 days. Currently, 3.3% of the shares of the company are sold short.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Performance

NASDAQ:SKYU traded up $0.25 during trading hours on Friday, reaching $33.81. The stock had a trading volume of 3,499 shares, compared to its average volume of 2,330. The stock has a 50 day simple moving average of $28.03 and a 200 day simple moving average of $32.43. ProShares Ultra Nasdaq Cloud Computing ETF has a 12-month low of $22.55 and a 12-month high of $45.55. The stock has a market cap of $3.04 million, a P/E ratio of 29.23 and a beta of 2.39.

ProShares Ultra Nasdaq Cloud Computing ETF Cuts Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were given a $0.0574 dividend. The ex-dividend date was Wednesday, March 25th. This represents a $0.23 annualized dividend and a dividend yield of 0.7%.

ProShares Ultra Nasdaq Cloud Computing ETF Company Profile

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.