ProShares UltraShort Health Care (NYSEARCA:RXD) Short Interest Up 1,630.1% in April
by Scott Moore · The Cerbat GemProShares UltraShort Health Care (NYSEARCA:RXD – Get Free Report) saw a large growth in short interest in April. As of April 30th, there was short interest totaling 107,766 shares, a growth of 1,630.1% from the April 15th total of 6,229 shares. Approximately 22.5% of the company’s stock are short sold. Based on an average daily volume of 47,799 shares, the days-to-cover ratio is currently 2.3 days.
Hedge Funds Weigh In On ProShares UltraShort Health Care
A hedge fund recently bought a new stake in ProShares UltraShort Health Care stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Health Care (NYSEARCA:RXD – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned approximately 4.29% of ProShares UltraShort Health Care at the end of the most recent reporting period.
ProShares UltraShort Health Care Price Performance
Shares of RXD stock traded up $0.13 on Monday, reaching $10.68. 13,427 shares of the company were exchanged, compared to its average volume of 16,839. The company has a 50-day moving average of $9.97 and a 200-day moving average of $9.51. ProShares UltraShort Health Care has a one year low of $8.46 and a one year high of $13.64.
About ProShares UltraShort Health Care
ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.