ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) Sees Large Drop in Short Interest

ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) was the recipient of a large decrease in short interest in the month of July. As of July 15th, there was short interest totaling 294,480 shares, a decrease of 62.0% from the June 30th total of 774,920 shares. Based on an average trading volume of 1,709,593 shares, the short-interest ratio is currently 0.2 days. Currently, 6.2% of the shares of the company are sold short.

ProShares Ultra SpaceX ETF Stock Up 5.1%

SPCF traded up $0.55 on Tuesday, reaching $11.31. 2,969,552 shares of the stock were exchanged, compared to its average volume of 2,548,170. ProShares Ultra SpaceX ETF has a fifty-two week low of $9.55 and a fifty-two week high of $46.71.

ProShares Ultra SpaceX ETF Company Profile

SPCF, the ProShares Ultra SpaceX ETF, is a leveraged single-stock fund that seeks daily investment results, before fees and expenses, equal to 2x (200%) the daily performance of the common stock of SpaceX (SPCX). Because the fund pursues a daily objective and resets its exposure each day, it is designed as a short-term, tactical tool rather than a buy-and-hold investment: over any holding period longer than a single day, returns can differ significantly from 2x the underlying stock’s performance, and that gap tends to widen in more volatile markets.