ProShares UltraShort Consumer Discretionary (NYSEARCA:SCC) Sees Large Growth in Short Interest

ProShares UltraShort Consumer Discretionary (NYSEARCA:SCC) was the recipient of a large increase in short interest in the month of July. As of July 31st, there was short interest totaling 69,642 shares, an increase of 192.9% from the July 15th total of 23,775 shares. Based on an average trading volume of 20,364 shares, the days-to-cover ratio is presently 3.4 days. Currently, 15.1% of the shares of the company are sold short.

ProShares UltraShort Consumer Discretionary Price Performance

Shares of SCC traded down $0.12 during trading hours on Thursday, reaching $14.14. 2,859 shares of the company’s stock traded hands, compared to its average volume of 20,100. ProShares UltraShort Consumer Discretionary has a twelve month low of $13.12 and a twelve month high of $18.30. The business’s fifty day simple moving average is $14.87 and its two-hundred day simple moving average is $15.07.

About ProShares UltraShort Consumer Discretionary

ProShares UltraShort Consumer Services (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Consumer Services Index (the Index). The Index measures the performance of consumer spending in the services industry of the United States equity market. Component companies include airlines, broadcasting and entertainment, apparel and broadline retailers, food and drug retailers, media agencies, publishing, gambling, hotels, restaurants and bars, and travel and tourism.