ProShares UltraShort Euro (NYSEARCA:EUO) Sees Significant Drop in Short Interest

ProShares UltraShort Euro (NYSEARCA:EUO) was the recipient of a large drop in short interest in May. As of May 29th, there was short interest totaling 9,150 shares, a drop of 34.5% from the May 14th total of 13,968 shares. Currently, 0.7% of the shares of the stock are sold short. Based on an average daily volume of 18,668 shares, the days-to-cover ratio is presently 0.5 days.

ProShares UltraShort Euro Trading Down 0.1%

ProShares UltraShort Euro stock traded down $0.04 during midday trading on Tuesday, reaching $29.68. 2,930 shares of the company were exchanged, compared to its average volume of 42,503. The firm’s 50-day simple moving average is $29.19 and its 200-day simple moving average is $28.87. ProShares UltraShort Euro has a 1 year low of $26.93 and a 1 year high of $30.75.

Institutional Trading of ProShares UltraShort Euro

Hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Osaic Holdings Inc. purchased a new stake in ProShares UltraShort Euro in the 2nd quarter valued at about $33,000. Jane Street Group LLC purchased a new stake in ProShares UltraShort Euro in the 1st quarter valued at about $237,000. Finally, Verity Asset Management Inc. purchased a new stake in ProShares UltraShort Euro in the 4th quarter valued at about $582,000.

ProShares UltraShort Euro Company Profile

The ProShares UltraShort Euro (EUO) is an exchange-traded fund that is based on the U.S. Dollar per Euro index. The fund provides a -200% exposure to the daily performance of the EUR spot price against the US dollar as measured by Bloomberg. EUO was launched on Nov 25, 2008 and is managed by ProShares.