ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the target of a large increase in short interest in the month of July. As of July 15th, there was short interest totaling 21,308 shares, an increase of 620.6% from the June 30th total of 2,957 shares. Based on an average daily volume of 24,249 shares, the days-to-cover ratio is currently 0.9 days. Currently, 8.2% of the shares of the stock are sold short.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. purchased a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology at the end of the most recent reporting period.
ProShares UltraShort Technology Stock Up 3.2%
Shares of NYSEARCA REW traded up $0.41 during midday trading on Friday, hitting $13.21. The company had a trading volume of 9,348 shares, compared to its average volume of 28,501. ProShares UltraShort Technology has a twelve month low of $11.03 and a twelve month high of $29.00. The business has a 50-day simple moving average of $12.49 and a two-hundred day simple moving average of $18.27.
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.
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