ProShares UltraShort Technology (NYSEARCA:REW) Sees Significant Increase in Short Interest

ProShares UltraShort Technology (NYSEARCA:REW) was the recipient of a significant increase in short interest during the month of April. As of April 30th, there was short interest totaling 40,775 shares, an increase of 1,435.8% from the April 15th total of 2,655 shares. Based on an average daily volume of 56,056 shares, the short-interest ratio is presently 0.7 days. Currently, 9.5% of the company’s shares are short sold.

Institutional Investors Weigh In On ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. purchased a new stake in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 2.34% of ProShares UltraShort Technology at the end of the most recent reporting period.

ProShares UltraShort Technology Price Performance

Shares of REW traded down $0.18 during trading on Monday, reaching $6.91. 23,913 shares of the company traded hands, compared to its average volume of 54,699. ProShares UltraShort Technology has a twelve month low of $6.88 and a twelve month high of $18.98. The stock has a 50-day simple moving average of $10.68 and a 200-day simple moving average of $10.94.

About ProShares UltraShort Technology

ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.