ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Down 35.1% in April

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a significant decline in short interest in the month of April. As of April 30th, there was short interest totaling 8,867 shares, a decline of 35.1% from the April 15th total of 13,668 shares. Based on an average daily trading volume, of 4,566 shares, the short-interest ratio is presently 1.9 days. Approximately 2.0% of the company’s shares are short sold.

ProShares UltraShort Utilities Stock Down 0.1%

Shares of NYSEARCA:SDP traded down $0.01 during trading hours on Monday, hitting $11.63. 8,513 shares of the company’s stock traded hands, compared to its average volume of 12,790. ProShares UltraShort Utilities has a 1 year low of $9.89 and a 1 year high of $14.96. The business has a fifty day moving average price of $10.68 and a 200-day moving average price of $11.48.

Shares of ProShares UltraShort Utilities are set to reverse split before the market opens on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, May 27th.

Institutional Inflows and Outflows

A hedge fund recently bought a new stake in ProShares UltraShort Utilities stock. IMC Chicago LLC bought a new stake in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned 45.58% of ProShares UltraShort Utilities at the end of the most recent reporting period.

ProShares UltraShort Utilities Company Profile

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities Index (the Index). 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. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.