ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Down 35.1% in April

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a significant decrease in short interest in the month of April. As of April 30th, there was short interest totaling 8,867 shares, a decrease of 35.1% from the April 15th total of 13,668 shares. Based on an average trading volume of 4,566 shares, the days-to-cover ratio is currently 1.9 days. Approximately 2.0% of the company’s shares are short sold.

ProShares UltraShort Utilities Trading Down 1.6%

Shares of SDP traded down $0.19 during midday trading on Tuesday, hitting $11.44. The stock had a trading volume of 4,385 shares, compared to its average volume of 12,681. ProShares UltraShort Utilities has a 1 year low of $9.89 and a 1 year high of $14.96. The stock’s 50 day moving average is $10.71 and its 200 day moving average is $11.48.

ProShares UltraShort Utilities shares are scheduled to reverse split on the morning of Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

Institutional Investors Weigh In On ProShares UltraShort Utilities

An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC bought a new stake in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned 45.58% of ProShares UltraShort Utilities as of its most recent filing with the Securities and Exchange Commission.

ProShares UltraShort Utilities Company Profile

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities 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.