ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Down 35.1% in April

ProShares UltraShort Utilities (NYSEARCA:SDP) was the recipient of a significant drop in short interest in April. As of April 30th, there was short interest totaling 8,867 shares, a drop of 35.1% from the April 15th total of 13,668 shares. Approximately 2.0% of the shares of the stock are short sold. Based on an average daily volume of 4,566 shares, the short-interest ratio is presently 1.9 days.

ProShares UltraShort Utilities Trading Down 0.1%

Shares of ProShares UltraShort Utilities stock traded down $0.01 during trading on Monday, reaching $11.63. 8,513 shares of the stock traded hands, compared to its average volume of 12,790. The business has a fifty day simple moving average of $10.68 and a two-hundred day simple moving average of $11.48. ProShares UltraShort Utilities has a 52-week low of $9.89 and a 52-week high of $14.96.

ProShares UltraShort Utilities’s stock is set to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

Institutional Inflows and Outflows

An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned about 45.58% of ProShares UltraShort Utilities at the end of the most recent reporting period.

About ProShares UltraShort Utilities

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.