ProShares Short Real Estate (NYSEARCA:REK – Get Free Report) saw a large drop in short interest in July. As of July 31st, there was short interest totaling 17,888 shares, a drop of 87.8% from the July 15th total of 146,309 shares. Based on an average daily trading volume, of 4,178 shares, the days-to-cover ratio is currently 4.3 days. Approximately 2.4% of the shares of the company are short sold.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. IMC Chicago LLC boosted its holdings in ProShares Short Real Estate by 4.3% in the first quarter. IMC Chicago LLC now owns 19,048 shares of the company’s stock worth $324,000 after purchasing an additional 791 shares during the last quarter. Susquehanna International Group LLP bought a new position in shares of ProShares Short Real Estate during the 3rd quarter valued at $264,000. Finally, Ramsey Quantitative Systems bought a new position in shares of ProShares Short Real Estate during the 1st quarter valued at $42,000.
ProShares Short Real Estate Price Performance
REK traded down $0.17 during midday trading on Wednesday, hitting $15.55. 1,969 shares of the company traded hands, compared to its average volume of 12,310. The company’s 50-day moving average is $15.47 and its 200 day moving average is $15.99. ProShares Short Real Estate has a 52 week low of $14.89 and a 52 week high of $17.64.
ProShares Short Real Estate Company Profile
ProShares Short Real Estate (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments; and real estate investment trusts (REITs) that invest in apartments, office and retail properties.
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