ProShares Short Financials (NYSEARCA:SEF) Sees Significant Growth in Short Interest

ProShares Short Financials (NYSEARCA:SEF) was the target of a large growth in short interest in the month of February. As of February 27th, there was short interest totaling 20,542 shares, a growth of 598.0% from the February 12th total of 2,943 shares. Currently, 7.1% of the shares of the stock are short sold. Based on an average daily trading volume, of 31,207 shares, the days-to-cover ratio is presently 0.7 days. Based on an average daily trading volume, of 31,207 shares, the days-to-cover ratio is presently 0.7 days. Currently, 7.1% of the shares of the stock are short sold.

ProShares Short Financials Stock Up 0.4%

Shares of ProShares Short Financials stock traded up $0.15 during trading on Tuesday, reaching $33.78. The company’s stock had a trading volume of 82,112 shares, compared to its average volume of 21,952. The business has a 50 day moving average price of $31.76 and a 200-day moving average price of $31.75. ProShares Short Financials has a 12-month low of $29.77 and a 12-month high of $40.06.

Institutional Investors Weigh In On ProShares Short Financials

A hedge fund recently bought a new stake in ProShares Short Financials stock. Wakefield Asset Management LLLP purchased a new stake in ProShares Short Financials (NYSEARCA:SEF) in the third quarter, according to the company in its most recent filing with the SEC. The firm purchased 31,248 shares of the company’s stock, valued at approximately $977,000. Wakefield Asset Management LLLP owned approximately 10.78% of ProShares Short Financials as of its most recent SEC filing.

About ProShares Short Financials

ProShares Short Financials (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services economic sector of the United States equity market. Component companies include regional banks; United States-domiciled international banks; 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 (Fannie Mae), credit card insurers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.