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

ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) saw a significant decline in short interest in August. As of August 31st, there was short interest totaling 327,108 shares, a decline of 79.7% from the August 15th total of 1,612,349 shares. Currently, 6.8% of the shares of the company are sold short. Based on an average daily volume of 2,130,432 shares, the days-to-cover ratio is presently 0.2 days.

ProShares Ultra SpaceX ETF Stock Performance

NYSEARCA:SPCF opened at $16.35 on Friday. The company’s fifty day moving average is $14.77. ProShares Ultra SpaceX ETF has a 52-week low of $8.85 and a 52-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.