ProShares UltraShort Technology (NYSEARCA:REW) Sees Significant Increase in Short Interest

ProShares UltraShort Technology (NYSEARCA:REW) saw a significant increase in short interest in April. As of April 30th, there was short interest totaling 40,775 shares, an increase of 1,435.8% from the April 15th total of 2,655 shares. Based on an average daily trading volume, of 56,056 shares, the short-interest ratio is currently 0.7 days. Currently, 9.5% of the shares of the stock are short sold.

Institutional Investors Weigh In On ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new stake in ProShares UltraShort Technology (NYSEARCA:REW) during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 2.34% of ProShares UltraShort Technology at the end of the most recent reporting period.

ProShares UltraShort Technology Stock Down 2.0%

Shares of NYSEARCA REW traded down $0.14 during midday trading on Wednesday, reaching $6.97. The company’s stock had a trading volume of 53,495 shares, compared to its average volume of 54,719. ProShares UltraShort Technology has a fifty-two week low of $6.88 and a fifty-two week high of $18.82. The business’s 50 day moving average price is $10.59 and its two-hundred day moving average price is $10.91.

ProShares UltraShort Technology shares are set to reverse split before the market opens on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

About ProShares UltraShort Technology

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.