ProShares UltraShort Consumer Staples (NYSEARCA:SZK) Sees Significant Decline in Short Interest

ProShares UltraShort Consumer Staples (NYSEARCA:SZK) was the recipient of a large drop in short interest in January. As of January 30th, there was short interest totaling 1,754 shares, a drop of 42.2% from the January 15th total of 3,035 shares. Currently, 2.9% of the shares of the stock are short sold. Based on an average trading volume of 4,159 shares, the days-to-cover ratio is presently 0.4 days. Based on an average trading volume of 4,159 shares, the days-to-cover ratio is presently 0.4 days. Currently, 2.9% of the shares of the stock are short sold.

Institutional Investors Weigh In On ProShares UltraShort Consumer Staples

A hedge fund recently bought a new stake in ProShares UltraShort Consumer Staples stock. Mutual Advisors LLC acquired a new position in ProShares UltraShort Consumer Staples (NYSEARCA:SZK) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 15,482 shares of the company’s stock, valued at approximately $190,000. Mutual Advisors LLC owned 25.80% of ProShares UltraShort Consumer Staples as of its most recent SEC filing.

ProShares UltraShort Consumer Staples Price Performance

Shares of SZK stock traded down $0.03 during trading hours on Friday, reaching $9.71. 26,008 shares of the company were exchanged, compared to its average volume of 14,274. ProShares UltraShort Consumer Staples has a fifty-two week low of $9.20 and a fifty-two week high of $13.91. The stock’s fifty day moving average is $11.83 and its two-hundred day moving average is $12.27.

About ProShares UltraShort Consumer Staples

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