ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Down 67.4% in May

ProShares UltraShort Utilities (NYSEARCA:SDP) was the recipient of a significant decrease in short interest in May. As of May 29th, there was short interest totaling 3,029 shares, a decrease of 67.4% from the May 14th total of 9,287 shares. Based on an average daily volume of 3,180 shares, the short-interest ratio is presently 1.0 days. Currently, 1.4% of the shares of the stock are sold short.

ProShares UltraShort Utilities Stock Performance

NYSEARCA:SDP traded down $0.42 during mid-day trading on Friday, hitting $22.72. The company’s stock had a trading volume of 3,308 shares, compared to its average volume of 5,797. ProShares UltraShort Utilities has a fifty-two week low of $19.78 and a fifty-two week high of $29.46. The stock has a fifty day moving average of $21.99 and a 200-day moving average of $22.87.

Institutional Trading of ProShares UltraShort Utilities

An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned about 45.58% of ProShares UltraShort Utilities at the end of the most recent quarter.

ProShares UltraShort Utilities Company Profile

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.