ProShares UltraShort Financials (NYSEARCA:SKF) Sees Significant Decrease in Short Interest

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a significant decline in short interest in the month of February. As of February 27th, there was short interest totaling 15,611 shares, a decline of 30.7% from the February 12th total of 22,528 shares. Currently, 4.0% of the company’s shares are short sold. Based on an average daily trading volume, of 38,457 shares, the short-interest ratio is currently 0.4 days. Based on an average daily trading volume, of 38,457 shares, the short-interest ratio is currently 0.4 days. Currently, 4.0% of the company’s shares are short sold.

ProShares UltraShort Financials Stock Performance

SKF traded down $0.01 during trading on Friday, reaching $31.98. 109,940 shares of the stock traded hands, compared to its average volume of 35,144. The stock’s 50-day moving average is $27.42 and its 200 day moving average is $27.19. ProShares UltraShort Financials has a 12 month low of $23.86 and a 12 month high of $44.19.

Institutional Investors Weigh In On ProShares UltraShort Financials

Hedge funds have recently added to or reduced their stakes in the business. Group One Trading LLC bought a new position in shares of ProShares UltraShort Financials during the 2nd quarter worth approximately $37,000. Northwestern Mutual Wealth Management Co. increased its stake in shares of ProShares UltraShort Financials by 20,938.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock valued at $166,000 after acquiring an additional 6,491 shares in the last quarter. Finally, Tower Research Capital LLC TRC increased its stake in shares of ProShares UltraShort Financials by 907.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock valued at $388,000 after acquiring an additional 12,466 shares in the last quarter.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.