ProShares Short High Yield (NYSEARCA:SJB) Sees Significant Decrease in Short Interest

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

ProShares Short High Yield Stock Up 0.3%

SJB stock traded up $0.04 during midday trading on Friday, hitting $15.58. The company’s stock had a trading volume of 486,633 shares, compared to its average volume of 277,492. ProShares Short High Yield has a twelve month low of $15.18 and a twelve month high of $16.95. The company’s fifty day moving average price is $15.29 and its 200 day moving average price is $15.40.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in SJB. Trek Financial LLC bought a new stake in shares of ProShares Short High Yield during the 3rd quarter worth approximately $1,908,000. Thomas J. Herzfeld Advisors Inc. bought a new position in shares of ProShares Short High Yield in the second quarter valued at $8,942,000. Csenge Advisory Group grew its stake in shares of ProShares Short High Yield by 45.1% in the third quarter. Csenge Advisory Group now owns 1,481,348 shares of the company’s stock valued at $22,776,000 after buying an additional 460,525 shares in the last quarter. Choreo LLC acquired a new position in ProShares Short High Yield during the second quarter worth $1,175,000. Finally, BNP Paribas Financial Markets acquired a new position in ProShares Short High Yield during the second quarter worth $135,000.

ProShares Short High Yield Company Profile

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.