ProShares UltraShort Health Care (NYSEARCA:RXD – Get Free Report) saw a significant growth in short interest in April. As of April 30th, there was short interest totaling 107,766 shares, a growth of 1,630.1% from the April 15th total of 6,229 shares. Based on an average trading volume of 47,799 shares, the days-to-cover ratio is presently 2.3 days. Approximately 22.5% of the company’s shares are short sold.
Institutional Investors Weigh In On ProShares UltraShort Health Care
A hedge fund recently bought a new stake in ProShares UltraShort Health Care stock. IMC Chicago LLC purchased a new position in ProShares UltraShort Health Care (NYSEARCA:RXD – Free Report) in the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned approximately 4.29% of ProShares UltraShort Health Care at the end of the most recent reporting period.
ProShares UltraShort Health Care Stock Performance
Shares of ProShares UltraShort Health Care stock opened at $10.68 on Tuesday. ProShares UltraShort Health Care has a 1 year low of $8.46 and a 1 year high of $13.64. The business has a 50-day moving average of $9.97 and a two-hundred day moving average of $9.51.
About ProShares UltraShort Health Care
ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care Index (the Index). 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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.
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