ProShares UltraShort Technology (NYSEARCA:REW) Sees Large Increase in Short Interest

ProShares UltraShort Technology (NYSEARCA:REW) was the recipient of a significant growth in short interest during the month of October. As of October 15th, there was short interest totaling 75,969 shares, a growth of 270.7% from the September 30th total of 20,491 shares. Based on an average daily volume of 53,392 shares, the short-interest ratio is currently 1.4 days. Approximately 21.7% of the company’s shares are short sold.

ProShares UltraShort Technology Stock Performance

Shares of REW traded up $0.27 during mid-day trading on Thursday, reaching $11.04. The company had a trading volume of 29,038 shares, compared to its average volume of 33,195. The firm has a 50-day moving average price of $11.08 and a 200 day moving average price of $15.90. ProShares UltraShort Technology has a 52 week low of $9.60 and a 52 week high of $27.67.

ProShares UltraShort Technology Company Profile

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.