ProShares UltraShort Financials (NYSEARCA:SKF) Sees Large Drop in Short Interest

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a significant decrease in short interest in May. As of May 15th, there was short interest totaling 2,413 shares, a decrease of 61.4% from the April 30th total of 6,253 shares. Based on an average trading volume of 18,733 shares, the short-interest ratio is presently 0.1 days. Currently, 0.4% of the shares of the company are short sold.

Institutional Investors Weigh In On ProShares UltraShort Financials

Large investors have recently bought and sold shares of the company. Group One Trading LLC acquired a new stake in ProShares UltraShort Financials during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. grew its stake in ProShares UltraShort Financials by 20,938.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after buying an additional 6,491 shares in the last quarter. Finally, Tower Research Capital LLC TRC grew its stake in ProShares UltraShort Financials by 907.3% during the second quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock worth $388,000 after buying an additional 12,466 shares in the last quarter.

ProShares UltraShort Financials Stock Performance

SKF stock opened at $28.50 on Friday. The company’s 50-day simple moving average is $29.08 and its 200 day simple moving average is $27.90. ProShares UltraShort Financials has a 52 week low of $23.86 and a 52 week high of $33.06.

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.