ProShares UltraShort S&P500 (NYSEARCA:SDS) Sees Large Increase in Short Interest

ProShares UltraShort S&P500 (NYSEARCA:SDS) saw a significant increase in short interest in March. As of March 13th, there was short interest totaling 541,501 shares, an increase of 29.5% from the February 26th total of 418,105 shares. Currently, 10.9% of the company’s shares are short sold. Based on an average trading volume of 5,428,526 shares, the days-to-cover ratio is currently 0.1 days.

ProShares UltraShort S&P500 Stock Performance

NYSEARCA:SDS traded up $2.68 during trading hours on Friday, hitting $79.27. The company had a trading volume of 5,171,826 shares, compared to its average volume of 3,830,461. The stock has a 50-day moving average price of $69.63 and a 200 day moving average price of $70.24. ProShares UltraShort S&P500 has a 52 week low of $65.71 and a 52 week high of $141.55.

ProShares UltraShort S&P500 Cuts Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be given a $0.4152 dividend. This represents a $1.66 annualized dividend and a dividend yield of 2.1%. The ex-dividend date of this dividend is Wednesday, March 25th.

Hedge Funds Weigh In On ProShares UltraShort S&P500

Hedge funds and other institutional investors have recently modified their holdings of the stock. Colonial Trust Advisors bought a new position in shares of ProShares UltraShort S&P500 in the 4th quarter worth approximately $94,000. Global Trust Asset Management LLC purchased a new stake in ProShares UltraShort S&P500 in the third quarter worth $29,000. Simplex Trading LLC purchased a new stake in ProShares UltraShort S&P500 in the fourth quarter worth $159,000. Sunbelt Securities Inc. bought a new position in ProShares UltraShort S&P500 in the fourth quarter worth $178,000. Finally, Cassaday & Co Wealth Management LLC bought a new position in ProShares UltraShort S&P500 in the fourth quarter worth $205,000.

About ProShares UltraShort S&P500

ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index). The Index is a measure of large-cap the United States stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 United States operating companies and real estate investment trusts selected through a process that factors criteria, such as liquidity, price, market capitalization and financial viability.