ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Short Interest Update

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) was the recipient of a significant decline in short interest in the month of May. As of May 29th, there was short interest totaling 427,870 shares, a decline of 36.5% from the May 14th total of 674,203 shares. Based on an average trading volume of 4,914,241 shares, the days-to-cover ratio is presently 0.1 days. Currently, 6.8% of the company’s shares are sold short.

ProShares UltraPro Short Dow30 Price Performance

Shares of SDOW stock traded down $0.24 during mid-day trading on Wednesday, reaching $24.47. The stock had a trading volume of 2,605,155 shares, compared to its average volume of 6,159,341. The stock’s 50-day moving average price is $28.48 and its two-hundred day moving average price is $30.53. ProShares UltraPro Short Dow30 has a 52-week low of $24.32 and a 52-week high of $48.39.

Hedge Funds Weigh In On ProShares UltraPro Short Dow30

A number of hedge funds have recently modified their holdings of the company. Parallel Advisors LLC increased its position in shares of ProShares UltraPro Short Dow30 by 261.9% in the first quarter. Parallel Advisors LLC now owns 1,737 shares of the exchange traded fund’s stock valued at $61,000 after acquiring an additional 1,257 shares during the period. Group One Trading LLC lifted its position in shares of ProShares UltraPro Short Dow30 by 335.7% in the 1st quarter. Group One Trading LLC now owns 58,829 shares of the exchange traded fund’s stock worth $2,071,000 after purchasing an additional 45,328 shares during the period. IMC Chicago LLC lifted its position in shares of ProShares UltraPro Short Dow30 by 32.5% in the 1st quarter. IMC Chicago LLC now owns 140,711 shares of the exchange traded fund’s stock worth $4,954,000 after purchasing an additional 34,501 shares during the period. Capstone Capital Management Ltd purchased a new stake in shares of ProShares UltraPro Short Dow30 in the 1st quarter worth about $436,000. Finally, XTX Topco Ltd lifted its position in shares of ProShares UltraPro Short Dow30 by 10.8% in the 4th quarter. XTX Topco Ltd now owns 12,949 shares of the exchange traded fund’s stock worth $414,000 after purchasing an additional 1,262 shares during the period.

ProShares UltraPro Short Dow30 Company Profile

ProShares UltraPro Short Dow30 (the Fund) seeks daily investment results that correspond to three times (300%) the inverse (opposite) of the daily performance of the Dow Jones Industrial Average (the Index). The Index is a price-weighted index maintained by editors of The Wall Street Journal. The Index includes 30 large-cap, United States stocks, excluding utility and transportation companies. The Fund invests in financial instruments whose value is derived from the value of an underlying asset, interest rate or index.