Short Interest in ProShares Short Financials (NYSEARCA:SEF) Drops By 65.7%
by Renee Jackson · The Cerbat GemProShares Short Financials (NYSEARCA:SEF – Get Free Report) was the target of a significant decline in short interest during the month of March. As of March 31st, there was short interest totaling 35,822 shares, a decline of 65.7% from the March 15th total of 104,434 shares. Approximately 6.1% of the company’s stock are sold short. Based on an average daily trading volume, of 54,609 shares, the short-interest ratio is presently 0.7 days.
ProShares Short Financials Stock Up 1.2%
ProShares Short Financials stock traded up $0.38 during trading hours on Friday, hitting $33.14. The stock had a trading volume of 19,461 shares, compared to its average volume of 31,256. ProShares Short Financials has a 12-month low of $29.77 and a 12-month high of $37.38. The stock’s 50-day moving average price is $33.20 and its 200-day moving average price is $32.14.
ProShares Short Financials Cuts Dividend
The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Shareholders of record on Wednesday, March 25th were issued a $0.1103 dividend. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $0.44 annualized dividend and a yield of 1.3%.
Institutional Inflows and Outflows
An institutional investor recently bought a new position in ProShares Short Financials stock. Wakefield Asset Management LLLP bought a new position in ProShares Short Financials (NYSEARCA:SEF – Free Report) in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund bought 31,248 shares of the company’s stock, valued at approximately $977,000. Wakefield Asset Management LLLP owned about 10.78% of ProShares Short Financials as of its most recent filing with the Securities & Exchange Commission.
ProShares Short Financials Company Profile
ProShares Short Financials (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services economic sector of the United States equity market. Component companies include regional banks; United States-domiciled international banks; 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 (Fannie Mae), credit card insurers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.