Short Interest in ProShares UltraShort Financials (NYSEARCA:SKF) Declines By 61.4%

ProShares UltraShort Financials (NYSEARCA:SKF) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 2,413 shares, a decline of 61.4% from the April 30th total of 6,253 shares. Currently, 0.4% of the shares of the stock are short sold. Based on an average daily volume of 18,733 shares, the days-to-cover ratio is currently 0.1 days.

ProShares UltraShort Financials Trading Down 1.0%

SKF traded down $0.29 during trading on Friday, reaching $28.50. 6,892 shares of the company’s stock were exchanged, compared to its average volume of 34,207. ProShares UltraShort Financials has a one year low of $23.86 and a one year high of $33.06. The firm has a fifty day moving average price of $29.08 and a two-hundred day moving average price of $27.91.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of SKF. Group One Trading LLC bought a new position in ProShares UltraShort Financials during the second quarter worth about $37,000. Tower Research Capital LLC TRC boosted its position in ProShares UltraShort Financials by 907.3% during the second quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock worth $388,000 after purchasing an additional 12,466 shares during the period. Finally, Northwestern Mutual Wealth Management Co. boosted its position in ProShares UltraShort Financials by 20,938.7% during the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock worth $166,000 after purchasing an additional 6,491 shares during the period.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.