Short Interest in ProShares Short High Yield (NYSEARCA:SJB) Decreases By 46.6%
by Danessa Lincoln · The Markets DailyProShares Short High Yield (NYSEARCA:SJB – Get Free Report) saw a large decrease in short interest during the month of March. As of March 31st, there was short interest totaling 526,639 shares, a decrease of 46.6% from the March 15th total of 985,931 shares. Based on an average daily trading volume, of 597,106 shares, the short-interest ratio is currently 0.9 days. Currently, 7.3% of the company’s stock are short sold.
Institutional Investors Weigh In On ProShares Short High Yield
Institutional investors and hedge funds have recently made changes to their positions in the stock. Trek Financial LLC bought a new stake in shares of ProShares Short High Yield during the 3rd quarter worth approximately $1,908,000. Csenge Advisory Group raised its stake in shares of ProShares Short High Yield by 45.1% during the 3rd quarter. Csenge Advisory Group now owns 1,481,348 shares of the company’s stock worth $22,776,000 after purchasing an additional 460,525 shares in the last quarter. BNP Paribas Financial Markets increased its stake in shares of ProShares Short High Yield by 120.4% during the 3rd quarter. BNP Paribas Financial Markets now owns 19,064 shares of the company’s stock worth $293,000 after purchasing an additional 10,414 shares during the last quarter. Two Sigma Securities LLC acquired a new position in shares of ProShares Short High Yield during the 2nd quarter worth about $358,000. Finally, HRT Financial LP acquired a new position in shares of ProShares Short High Yield during the 4th quarter worth about $235,000.
ProShares Short High Yield Trading Down 0.3%
Shares of ProShares Short High Yield stock traded down $0.04 during trading hours on Tuesday, reaching $15.27. 289,682 shares of the company’s stock were exchanged, compared to its average volume of 374,853. The company has a 50 day moving average of $15.40 and a two-hundred day moving average of $15.39. ProShares Short High Yield has a fifty-two week low of $15.18 and a fifty-two week high of $16.42.
ProShares Short High Yield Cuts Dividend
The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were paid a dividend of $0.0333 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.13 dividend on an annualized basis and a dividend yield of 0.9%.
About ProShares Short High Yield
The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.