ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Up 112.3% in January

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a significant growth in short interest during the month of January. As of January 15th, there was short interest totaling 21,205 shares, a growth of 112.3% from the December 31st total of 9,990 shares. Based on an average daily trading volume, of 22,354 shares, the days-to-cover ratio is presently 0.9 days. Currently, 5.4% of the shares of the stock are sold short. Currently, 5.4% of the shares of the stock are sold short. Based on an average daily trading volume, of 22,354 shares, the days-to-cover ratio is presently 0.9 days.

ProShares UltraShort Financials Stock Up 1.5%

NYSEARCA:SKF traded up $0.41 during mid-day trading on Friday, reaching $27.01. 17,102 shares of the company were exchanged, compared to its average volume of 23,773. ProShares UltraShort Financials has a 12 month low of $23.86 and a 12 month high of $44.19. The company has a fifty day moving average of $26.13 and a 200 day moving average of $27.14.

Institutional Trading of ProShares UltraShort Financials

An institutional investor recently raised its position in ProShares UltraShort Financials stock. Tower Research Capital LLC TRC increased its stake in ProShares UltraShort Financials (NYSEARCA:SKF) by 72.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 23,913 shares of the company’s stock after purchasing an additional 10,073 shares during the period. Tower Research Capital LLC TRC owned 6.13% of ProShares UltraShort Financials worth $633,000 as of its most recent SEC filing.

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.