Short Interest in ProShares UltraShort Technology (NYSEARCA:REW) Drops By 77.3%

ProShares UltraShort Technology (NYSEARCA:REW) was the target of a large decrease in short interest in May. As of May 15th, there was short interest totaling 9,271 shares, a decrease of 77.3% from the April 30th total of 40,775 shares. Based on an average daily trading volume, of 38,502 shares, the short-interest ratio is currently 0.2 days. Approximately 2.2% of the company’s stock are sold short.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. bought a new stake in ProShares UltraShort Technology (NYSEARCA:REW) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology at the end of the most recent quarter.

ProShares UltraShort Technology Trading Down 4.6%

Shares of ProShares UltraShort Technology stock traded down $0.57 during trading hours on Friday, hitting $11.90. The company had a trading volume of 8,471 shares, compared to its average volume of 26,306. The company’s 50-day moving average is $18.59 and its two-hundred day moving average is $21.10. ProShares UltraShort Technology has a twelve month low of $11.87 and a twelve month high of $36.88.

About ProShares UltraShort Technology

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.