ProShares UltraShort SmallCap 600 (NYSEARCA:SDD) Sees Significant Increase in Short Interest

ProShares UltraShort SmallCap 600 (NYSEARCA:SDD) saw a large growth in short interest during the month of March. As of March 13th, there was short interest totaling 2,624 shares, a growth of 118.7% from the February 26th total of 1,200 shares. Based on an average daily volume of 7,537 shares, the days-to-cover ratio is currently 0.3 days. Approximately 2.2% of the company’s stock are short sold.

Hedge Funds Weigh In On ProShares UltraShort SmallCap 600

An institutional investor recently raised its position in ProShares UltraShort SmallCap 600 stock. WealthPlan Investment Management LLC grew its position in shares of ProShares UltraShort SmallCap 600 (NYSEARCA:SDD) by 95.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 20,467 shares of the company’s stock after buying an additional 10,000 shares during the quarter. WealthPlan Investment Management LLC owned 17.06% of ProShares UltraShort SmallCap 600 worth $256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

ProShares UltraShort SmallCap 600 Stock Up 2.1%

NYSEARCA:SDD traded up $0.24 on Thursday, reaching $11.69. 2,407 shares of the stock traded hands, compared to its average volume of 3,314. ProShares UltraShort SmallCap 600 has a 12 month low of $10.29 and a 12 month high of $24.76. The company’s fifty day simple moving average is $11.07 and its 200 day simple moving average is $12.21.

ProShares UltraShort SmallCap 600 Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be given a dividend of $0.0821 per share. The ex-dividend date of this dividend is Wednesday, March 25th. This represents a $0.33 annualized dividend and a dividend yield of 2.8%.

ProShares UltraShort SmallCap 600 Company Profile

ProShares UltraShort SmallCap600 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P SmallCap 600 Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.