ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Shares Shorted: Short Interest Down 86.2% in October

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the recipient of a large decline in short interest in the month of October. As of October 15th, there was short interest totaling 246 shares, a decline of 86.2% from the September 30th total of 1,788 shares. Based on an average trading volume of 7,690 shares, the short-interest ratio is presently 0.0 days. Currently, 0.3% of the company’s shares are sold short.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Performance

NASDAQ:SKYU traded up $1.49 during mid-day trading on Tuesday, hitting $56.56. The company had a trading volume of 1,663 shares, compared to its average volume of 3,882. The firm has a market cap of $4.52 million, a P/E ratio of 29.23 and a beta of 2.58. ProShares Ultra Nasdaq Cloud Computing ETF has a fifty-two week low of $22.55 and a fifty-two week high of $58.86. The business’s fifty day moving average is $52.23 and its two-hundred day moving average is $37.90.

Institutional Trading of ProShares Ultra Nasdaq Cloud Computing ETF

A hedge fund recently bought a new stake in ProShares Ultra Nasdaq Cloud Computing ETF stock. Client First Investment Management LLC bought a new stake in shares of ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor bought 41,775 shares of the company’s stock, valued at approximately $2,172,000. ProShares Ultra Nasdaq Cloud Computing ETF accounts for about 1.0% of Client First Investment Management LLC’s investment portfolio, making the stock its 15th biggest holding. Client First Investment Management LLC owned approximately 34.81% of ProShares Ultra Nasdaq Cloud Computing ETF at the end of the most recent quarter.

ProShares Ultra Nasdaq Cloud Computing ETF Company Profile

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.