ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Down 61.4% in May

ProShares UltraShort Financials (NYSEARCA:SKF) saw a significant drop in short interest in the month of May. As of May 15th, there was short interest totaling 2,413 shares, a drop of 61.4% from the April 30th total of 6,253 shares. Based on an average daily volume of 18,733 shares, the short-interest ratio is currently 0.1 days. Currently, 0.4% of the shares of the stock are short sold.

ProShares UltraShort Financials Stock Up 0.5%

Shares of NYSEARCA SKF traded up $0.15 during mid-day trading on Monday, reaching $28.65. The company had a trading volume of 7,637 shares, compared to its average volume of 33,948. ProShares UltraShort Financials has a one year low of $23.86 and a one year high of $33.06. The business’s 50-day simple moving average is $29.02 and its 200 day simple moving average is $27.91.

Institutional Inflows and Outflows

A number of hedge funds have recently modified their holdings of SKF. Group One Trading LLC bought a new position in shares of ProShares UltraShort Financials in the second quarter worth $37,000. Tower Research Capital LLC TRC increased its position in shares of ProShares UltraShort Financials by 907.3% in the second quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock worth $388,000 after purchasing an additional 12,466 shares during the period. Finally, Northwestern Mutual Wealth Management Co. grew its position in ProShares UltraShort Financials by 20,938.7% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock valued at $166,000 after acquiring an additional 6,491 shares during the last quarter.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, 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, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.