ProShares Short S&P 500 (NYSEARCA:SH) Sees Significant Drop in Short Interest

ProShares Short S&P 500 (NYSEARCA:SH) was the target of a large drop in short interest during the month of June. As of June 30th, there was short interest totaling 644,339 shares, a drop of 58.2% from the June 15th total of 1,543,232 shares. Approximately 2.4% of the company’s shares are short sold. Based on an average daily volume of 10,149,382 shares, the short-interest ratio is currently 0.1 days.

ProShares Short S&P 500 Stock Performance

Shares of NYSEARCA SH traded down $0.13 during trading hours on Tuesday, hitting $32.84. 8,487,880 shares of the company traded hands, compared to its average volume of 10,755,828. The company’s 50 day moving average price is $33.35 and its 200 day moving average price is $35.17. ProShares Short S&P 500 has a 12 month low of $32.70 and a 12 month high of $39.85.

Institutional Investors Weigh In On ProShares Short S&P 500

Hedge funds and other institutional investors have recently made changes to their positions in the company. Nvwm LLC bought a new position in ProShares Short S&P 500 during the 4th quarter valued at about $36,000. WFA of San Diego LLC purchased a new position in shares of ProShares Short S&P 500 during the second quarter valued at approximately $36,000. Northwestern Mutual Wealth Management Co. bought a new position in shares of ProShares Short S&P 500 during the fourth quarter valued at approximately $55,000. Atlantic Union Bankshares Corp raised its holdings in shares of ProShares Short S&P 500 by 51.1% in the fourth quarter. Atlantic Union Bankshares Corp now owns 1,700 shares of the real estate investment trust’s stock worth $61,000 after buying an additional 575 shares during the period. Finally, Ascentis Independent Advisors purchased a new stake in shares of ProShares Short S&P 500 in the first quarter worth approximately $67,000.

About ProShares Short S&P 500

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts. 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.