ProShares UltraShort Financials (NYSEARCA:SKF – Get Free Report) was the target of a significant growth in short interest in June. As of June 30th, there was short interest totaling 6,354 shares, a growth of 87.2% from the June 15th total of 3,395 shares. Based on an average daily trading volume, of 13,330 shares, the days-to-cover ratio is currently 0.5 days. Approximately 1.5% of the company’s stock are short sold.
ProShares UltraShort Financials Stock Performance
NYSEARCA SKF traded down $0.15 on Thursday, hitting $23.26. 11,661 shares of the stock were exchanged, compared to its average volume of 29,841. The business’s fifty day moving average is $26.75 and its 200 day moving average is $27.65. ProShares UltraShort Financials has a 52 week low of $23.22 and a 52 week high of $33.06.
Institutional Investors Weigh In On ProShares UltraShort Financials
A number of institutional investors and hedge funds have recently modified their holdings of SKF. Group One Trading LLC bought a new stake in ProShares UltraShort Financials in the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. increased its holdings in shares of ProShares UltraShort Financials by 20,938.7% during the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after acquiring an additional 6,491 shares during the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in ProShares UltraShort Financials by 907.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock valued at $388,000 after acquiring an additional 12,466 shares during the period.
ProShares UltraShort Financials Company Profile
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.
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