Short Interest in ProShares UltraShort Financials (NYSEARCA:SKF) Rises By 134.1%

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a significant growth in short interest in the month of April. As of April 30th, there was short interest totaling 6,253 shares, a growth of 134.1% from the April 15th total of 2,671 shares. Based on an average trading volume of 30,584 shares, the days-to-cover ratio is presently 0.2 days. Approximately 1.1% of the shares of the company are short sold.

ProShares UltraShort Financials Trading Up 0.7%

SKF stock traded up $0.19 on Friday, reaching $28.92. 19,914 shares of the company were exchanged, compared to its average volume of 35,611. ProShares UltraShort Financials has a 12 month low of $23.86 and a 12 month high of $33.06. The stock’s fifty day moving average price is $29.57 and its 200 day moving average price is $27.87.

Hedge Funds Weigh In On ProShares UltraShort Financials

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Northwestern Mutual Wealth Management Co. increased its position in ProShares UltraShort Financials by 20,938.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after acquiring an additional 6,491 shares during the period. Tower Research Capital LLC TRC boosted its stake in ProShares UltraShort Financials by 72.8% during the third quarter. Tower Research Capital LLC TRC now owns 23,913 shares of the company’s stock worth $633,000 after buying an additional 10,073 shares in the last quarter. Finally, Group One Trading LLC acquired a new stake in ProShares UltraShort Financials during the second quarter worth $37,000.

ProShares UltraShort Financials Company Profile

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.