ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Sees Significant Growth in Short Interest

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) was the target of a large growth in short interest in the month of April. As of April 15th, there was short interest totaling 1,223,403 shares, a growth of 56.7% from the March 31st total of 780,886 shares. Based on an average daily volume of 8,574,974 shares, the days-to-cover ratio is presently 0.1 days. Approximately 9.1% of the shares of the stock are sold short.

ProShares UltraPro Short S&P 500 Trading Down 0.5%

SPXU stock traded down $0.21 during midday trading on Monday, hitting $42.70. The company’s stock had a trading volume of 6,015,177 shares, compared to its average volume of 8,177,147. ProShares UltraPro Short S&P 500 has a 12 month low of $42.63 and a 12 month high of $100.60. The company has a 50 day moving average of $51.08 and a two-hundred day moving average of $50.73.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Richards Merrill & Peterson Inc. bought a new position in ProShares UltraPro Short S&P 500 in the 1st quarter worth approximately $511,000. SG Americas Securities LLC bought a new position in ProShares UltraPro Short S&P 500 in the 1st quarter worth approximately $155,000. Quadrature Capital Ltd bought a new position in ProShares UltraPro Short S&P 500 in the 4th quarter worth approximately $5,747,000. Squarepoint Ops LLC boosted its stake in ProShares UltraPro Short S&P 500 by 123.3% in the 4th quarter. Squarepoint Ops LLC now owns 7,885 shares of the exchange traded fund’s stock worth $392,000 after purchasing an additional 41,685 shares during the period. Finally, Capstone Capital Management Ltd bought a new position in ProShares UltraPro Short S&P 500 in the 4th quarter worth approximately $497,000.

ProShares UltraPro Short S&P 500 Company Profile

The Fund seeks daily investment results that correspond to triple the inverse of the daily performance of the Index. The Fund invests in derivatives that it believes should have similar daily return characteristics as triple the inverse of the daily performance of the Index.