Short Interest in ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) Rises By 347.1%

ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) was the recipient of a large growth in short interest during the month of August. As of August 14th, there was short interest totaling 1,612,349 shares, a growth of 347.1% from the July 30th total of 360,597 shares. Currently, 33.5% of the company’s shares are short sold. Based on an average daily volume of 6,580,279 shares, the days-to-cover ratio is presently 0.2 days.

ProShares Ultra SpaceX ETF Price Performance

Shares of NYSEARCA:SPCF traded down $0.23 during trading on Friday, hitting $14.87. 941,586 shares of the company’s stock were exchanged, compared to its average volume of 3,226,746. The company’s 50-day moving average is $16.15. ProShares Ultra SpaceX ETF has a 1-year low of $8.85 and a 1-year 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.