ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) saw a significant increase in short interest in the month of October. As of October 15th, there was short interest totaling 75,969 shares, an increase of 270.7% from the September 30th total of 20,491 shares. Based on an average trading volume of 53,392 shares, the days-to-cover ratio is presently 1.4 days. Approximately 21.7% of the company’s stock are sold short.
ProShares UltraShort Technology Stock Up 8.1%
ProShares UltraShort Technology stock traded up $0.90 during midday trading on Friday, hitting $11.94. 18,056 shares of the company’s stock were exchanged, compared to its average volume of 33,113. ProShares UltraShort Technology has a 12 month low of $9.60 and a 12 month high of $27.67. The firm has a 50-day moving average of $11.06 and a two-hundred day moving average of $15.85.
About ProShares UltraShort Technology
ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.
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