Short Interest in ProShares UltraShort Financials (NYSEARCA:SKF) Rises By 134.1%

by · The Cerbat Gem

ProShares UltraShort Financials (NYSEARCA:SKF – Get Free Report) saw a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 6,253 shares, a growth of 134.1% from the April 15th total of 2,671 shares. Currently, 1.1% of the company’s stock are sold short. Based on an average daily trading volume, of 30,584 shares, the short-interest ratio is presently 0.2 days.

ProShares UltraShort Financials Stock Up 0.7%

Shares of SKF stock traded up $0.19 on Friday, hitting $28.92. 19,914 shares of the stock were exchanged, compared to its average volume of 35,611. The business has a 50-day moving average of $29.57 and a 200 day moving average of $27.87. ProShares UltraShort Financials has a fifty-two week low of $23.86 and a fifty-two week high of $33.06.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the company. Group One Trading LLC acquired a new position in shares of ProShares UltraShort Financials during the second quarter worth about $37,000. Northwestern Mutual Wealth Management Co. boosted its position 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 valued at $166,000 after purchasing an additional 6,491 shares during the last quarter. Finally, Tower Research Capital LLC TRC boosted its position in ProShares UltraShort Financials by 907.3% during 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 during the last quarter.

About ProShares UltraShort Financials

(Get Free Report)

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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