ProShares UltraShort Technology (NYSEARCA:REW) Short Interest Down 93.4% in April

ProShares UltraShort Technology (NYSEARCA:REW) saw a significant decline in short interest in April. As of April 15th, there was short interest totaling 2,655 shares, a decline of 93.4% from the March 31st total of 39,979 shares. Currently, 0.6% of the shares of the stock are sold short. Based on an average daily volume of 68,050 shares, the days-to-cover ratio is currently 0.0 days.

ProShares UltraShort Technology Stock Performance

Shares of NYSEARCA:REW traded down $0.51 during midday trading on Friday, reaching $8.56. The company’s stock had a trading volume of 33,664 shares, compared to its average volume of 55,291. ProShares UltraShort Technology has a fifty-two week low of $8.55 and a fifty-two week high of $23.04. The business’s fifty day simple moving average is $11.30 and its 200-day simple moving average is $11.17.

Institutional Investors Weigh In On ProShares UltraShort Technology

An institutional investor recently bought a new position in ProShares UltraShort Technology stock. Benchmark Financial Wealth Advisors LLC bought a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor bought 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 at the end of the most recent quarter.

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.