ProShares Short High Yield (NYSEARCA:SJB) Sees Large Increase in Short Interest

ProShares Short High Yield (NYSEARCA:SJB) saw a large increase in short interest in the month of September. As of September 15th, there was short interest totaling 168,035 shares, an increase of 118.7% from the August 31st total of 76,841 shares. Approximately 5.6% of the shares of the company are short sold. Based on an average daily trading volume, of 135,126 shares, the short-interest ratio is currently 1.2 days.

Institutional Trading of ProShares Short High Yield

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Merkkuri Wealth Advisors LLC purchased a new position in ProShares Short High Yield during the 1st quarter valued at about $147,000. Private Advisor Group LLC purchased a new stake in shares of ProShares Short High Yield in the first quarter worth about $155,000. Bravias Capital Group LLC purchased a new stake in shares of ProShares Short High Yield in the first quarter worth about $162,000. Finally, Purpose Unlimited Inc. bought a new position in shares of ProShares Short High Yield in the fourth quarter valued at approximately $440,000.

ProShares Short High Yield Trading Up 0.1%

SJB stock traded up $0.02 during midday trading on Tuesday, reaching $15.45. 171,748 shares of the company’s stock traded hands, compared to its average volume of 251,579. The company has a 50-day moving average price of $15.22 and a two-hundred day moving average price of $15.29. ProShares Short High Yield has a 52 week low of $15.05 and a 52 week high of $15.71.

ProShares Short High Yield Company Profile

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.