ProShares UltraShort Utilities (NYSEARCA:SDP – Get Free Report) saw a significant growth in short interest during the month of February. As of February 13th, there was short interest totaling 12,405 shares, a growth of 73.8% from the January 29th total of 7,139 shares. Currently, 6.5% of the shares of the company are sold short. Based on an average trading volume of 20,400 shares, the days-to-cover ratio is currently 0.6 days. Based on an average trading volume of 20,400 shares, the days-to-cover ratio is currently 0.6 days. Currently, 6.5% of the shares of the company are sold short.
ProShares UltraShort Utilities Stock Down 2.3%
SDP stock traded down $0.24 during midday trading on Friday, hitting $10.03. The company’s stock had a trading volume of 15,980 shares, compared to its average volume of 12,233. The stock’s 50-day moving average price is $11.90 and its 200 day moving average price is $12.13. ProShares UltraShort Utilities has a 1 year low of $10.00 and a 1 year high of $18.60.
Institutional Trading of ProShares UltraShort Utilities
An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC bought a new position in ProShares UltraShort Utilities (NYSEARCA:SDP – Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The firm bought 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned 45.58% of ProShares UltraShort Utilities as of its most recent SEC filing.
About ProShares UltraShort Utilities
ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities 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.
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