ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) saw a large decrease in short interest in the month of July. As of July 31st, there was short interest totaling 10,768 shares, a decrease of 49.5% from the July 15th total of 21,308 shares. Based on an average daily volume of 41,963 shares, the short-interest ratio is presently 0.3 days. Currently, 4.0% of the company’s shares are sold short.
Hedge Funds Weigh In On ProShares UltraShort Technology
An institutional investor recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. bought a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology as of its most recent filing with the Securities and Exchange Commission.
ProShares UltraShort Technology Stock Up 4.9%
Shares of NYSEARCA REW traded up $0.54 during mid-day trading on Tuesday, hitting $11.62. The company’s stock had a trading volume of 35,999 shares, compared to its average volume of 29,382. ProShares UltraShort Technology has a one year low of $10.88 and a one year high of $29.00. The company’s fifty day simple moving average is $12.29 and its 200-day simple moving average is $17.19.
About ProShares UltraShort Technology
ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.
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