Short Interest in ProShares UltraShort Technology (NYSEARCA:REW) Rises By 202.7%
by Kim Johansen · The Markets DailyProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the recipient of a large increase in short interest in February. As of February 13th, there was short interest totaling 11,763 shares, an increase of 202.7% from the January 29th total of 3,886 shares. Based on an average daily trading volume, of 66,098 shares, the days-to-cover ratio is currently 0.2 days. Approximately 2.7% of the shares of the company are sold short. Approximately 2.7% of the shares of the company are sold short. Based on an average daily trading volume, of 66,098 shares, the days-to-cover ratio is currently 0.2 days.
Institutional Trading of ProShares UltraShort Technology
A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. Benchmark Financial Wealth Advisors LLC acquired a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 17,776 shares of the company’s stock, valued at approximately $105,000. Benchmark Financial Wealth Advisors LLC owned approximately 2.82% of ProShares UltraShort Technology as of its most recent SEC filing.
ProShares UltraShort Technology Price Performance
ProShares UltraShort Technology stock traded up $0.42 during midday trading on Thursday, hitting $11.45. The company’s stock had a trading volume of 40,676 shares, compared to its average volume of 44,251. ProShares UltraShort Technology has a 1-year low of $9.99 and a 1-year high of $34.44. The company has a 50-day moving average price of $11.04 and a two-hundred day moving average price of $11.67.
ProShares UltraShort Technology Company Profile
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.