ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Update

ProShares UltraShort Financials (NYSEARCA:SKF) saw a significant growth in short interest in the month of July. As of July 15th, there was short interest totaling 25,191 shares, a growth of 296.5% from the June 30th total of 6,354 shares. Currently, 5.7% of the company’s stock are sold short. Based on an average daily trading volume, of 22,161 shares, the short-interest ratio is presently 1.1 days.

Hedge Funds Weigh In On ProShares UltraShort Financials

Several hedge funds have recently made changes to their positions in the business. Group One Trading LLC acquired a new stake in shares of ProShares UltraShort Financials in the second quarter valued at approximately $37,000. Northwestern Mutual Wealth Management Co. boosted its holdings in ProShares UltraShort Financials by 20,938.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after purchasing an additional 6,491 shares during the last quarter. Finally, Tower Research Capital LLC TRC grew its position in 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 valued at $388,000 after purchasing an additional 12,466 shares in the last quarter.

ProShares UltraShort Financials Trading Down 2.2%

NYSEARCA:SKF opened at $23.20 on Tuesday. The stock has a 50-day simple moving average of $26.06 and a 200 day simple moving average of $27.60. ProShares UltraShort Financials has a 52-week low of $22.99 and a 52-week high of $33.06.

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.