Short Interest in ProShares Short High Yield (NYSEARCA:SJB) Drops By 30.1%

ProShares Short High Yield (NYSEARCA:SJB) was the recipient of a significant drop in short interest in the month of February. As of February 27th, there was short interest totaling 39,573 shares, a drop of 30.1% from the February 12th total of 56,604 shares. Based on an average daily trading volume, of 131,780 shares, the days-to-cover ratio is presently 0.3 days. Currently, 1.4% of the shares of the company are short sold. Currently, 1.4% of the shares of the company are short sold. Based on an average daily trading volume, of 131,780 shares, the days-to-cover ratio is presently 0.3 days.

Hedge Funds Weigh In On ProShares Short High Yield

Hedge funds have recently modified their holdings of the company. Simplex Trading LLC boosted its position in shares of ProShares Short High Yield by 1,193.8% during the second quarter. Simplex Trading LLC now owns 1,669 shares of the company’s stock worth $26,000 after acquiring an additional 1,540 shares during the last quarter. BNP Paribas Financial Markets bought a new stake in ProShares Short High Yield in the 2nd quarter valued at $135,000. IMC Chicago LLC purchased a new stake in ProShares Short High Yield in the 4th quarter worth $212,000. HRT Financial LP bought a new position in shares of ProShares Short High Yield during the 4th quarter valued at about $235,000. Finally, Two Sigma Securities LLC bought a new position in shares of ProShares Short High Yield during the 2nd quarter valued at about $358,000.

ProShares Short High Yield Trading Up 0.3%

Shares of NYSEARCA:SJB traded up $0.04 during mid-day trading on Friday, reaching $15.58. 486,633 shares of the company traded hands, compared to its average volume of 277,492. The company’s 50 day moving average price is $15.29 and its 200-day moving average price is $15.40. ProShares Short High Yield has a 52 week low of $15.18 and a 52 week high of $16.95.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.