Short Interest in ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Grows By 79.0%

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) was the target of a significant increase in short interest in the month of May. As of May 15th, there was short interest totaling 1,553,334 shares, an increase of 79.0% from the April 30th total of 867,580 shares. Currently, 11.7% of the shares of the company are sold short. Based on an average trading volume of 9,568,390 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

Several large investors have recently modified their holdings of SPXU. EverSource Wealth Advisors LLC lifted its stake in shares of ProShares UltraPro Short S&P 500 by 18.7% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock valued at $104,000 after buying an additional 975 shares in the last quarter. Clough Capital Partners L P purchased a new stake in shares of ProShares UltraPro Short S&P 500 in the second quarter worth about $2,011,000. Tidal Investments LLC bought a new position in shares of ProShares UltraPro Short S&P 500 in the second quarter valued at approximately $752,000. Tower Research Capital LLC TRC boosted its holdings in ProShares UltraPro Short S&P 500 by 26.9% in the 2nd quarter. Tower Research Capital LLC TRC now owns 53,831 shares of the exchange traded fund’s stock valued at $904,000 after purchasing an additional 11,397 shares during the period. Finally, TD Waterhouse Canada Inc. bought a new stake in ProShares UltraPro Short S&P 500 during the third quarter valued at $27,000.

ProShares UltraPro Short S&P 500 Stock Down 0.4%

NYSEARCA:SPXU opened at $36.23 on Tuesday. The firm’s 50 day moving average is $45.52 and its 200 day moving average is $48.54. ProShares UltraPro Short S&P 500 has a 12 month low of $35.82 and a 12 month high of $80.00.

ProShares UltraPro Short S&P 500 Company Profile

The Fund seeks daily investment results that correspond to triple the inverse of the daily performance of the Index. The Fund invests in derivatives that it believes should have similar daily return characteristics as triple the inverse of the daily performance of the Index.