ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU – Get Free Report) saw a significant growth in short interest in the month of May. As of May 15th, there was short interest totaling 1,553,334 shares, a growth of 79.0% from the April 30th total of 867,580 shares. Approximately 11.7% of the company’s shares are short sold. Based on an average daily volume of 9,568,390 shares, the short-interest ratio is presently 0.2 days.
Hedge Funds Weigh In On ProShares UltraPro Short S&P 500
Institutional investors and hedge funds have recently made changes to their positions in the stock. Integrated Advisors Network LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter worth about $338,000. Fortitude Advisory Group L.L.C. acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter worth about $157,000. Sollinda Capital Management LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter worth about $9,177,000. Corient IA LLC acquired a new position in shares of ProShares UltraPro Short S&P 500 during the third quarter worth about $216,000. Finally, JPMorgan Chase & Co. grew its position in shares of ProShares UltraPro Short S&P 500 by 16,249.3% during the third quarter. JPMorgan Chase & Co. now owns 322,244 shares of the exchange traded fund’s stock worth $4,354,000 after buying an additional 320,273 shares in the last quarter.
ProShares UltraPro Short S&P 500 Trading Up 2.1%
Shares of NYSEARCA:SPXU opened at $36.69 on Thursday. The firm’s 50-day moving average is $44.68 and its two-hundred day moving average is $48.32. ProShares UltraPro Short S&P 500 has a 1 year low of $35.82 and a 1 year high of $77.68.
ProShares UltraPro Short S&P 500 Company Profile
The Fund seeks daily investment results that correspond to triple the inverse of the daily performance of the Index. The Fund invests in derivatives that it believes should have similar daily return characteristics as triple the inverse of the daily performance of the Index.
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