ProShares Short S&P 500 (NYSEARCA:SH) Sees Large Drop in Short Interest

ProShares Short S&P 500 (NYSEARCA:SH) was the target of a significant decline in short interest during the month of February. As of February 27th, there was short interest totaling 317,788 shares, a decline of 61.6% from the February 12th total of 828,045 shares. Based on an average daily volume of 8,285,340 shares, the days-to-cover ratio is currently 0.0 days. Currently, 1.1% of the shares of the stock are sold short. Currently, 1.1% of the shares of the stock are sold short. Based on an average daily volume of 8,285,340 shares, the days-to-cover ratio is currently 0.0 days.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in SH. Nvwm LLC bought a new stake in ProShares Short S&P 500 during the fourth quarter worth about $36,000. WFA of San Diego LLC bought a new position in shares of ProShares Short S&P 500 during the 2nd quarter valued at about $36,000. SBI Securities Co. Ltd. raised its holdings in shares of ProShares Short S&P 500 by 49.5% during the 2nd quarter. SBI Securities Co. Ltd. now owns 961 shares of the real estate investment trust’s stock valued at $38,000 after buying an additional 318 shares in the last quarter. Atlantic Union Bankshares Corp bought a new stake in ProShares Short S&P 500 in the 3rd quarter worth approximately $42,000. Finally, Northwestern Mutual Wealth Management Co. purchased a new stake in ProShares Short S&P 500 in the fourth quarter worth approximately $55,000.

ProShares Short S&P 500 Price Performance

Shares of NYSEARCA:SH opened at $36.63 on Wednesday. The company’s fifty day moving average price is $35.92 and its 200-day moving average price is $36.62. ProShares Short S&P 500 has a one year low of $35.34 and a one year high of $51.37.

About ProShares Short S&P 500

ProShares Short S&P500 (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the S&P 500 Index (the Index). The S&P 500 Index is a measure of large-cap United States stock market performance. It is a capitalization weighted index of 500 United States operating companies and selected real estate investment trusts. 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.