ProShares UltraShort Health Care (NYSEARCA:RXD – Get Free Report) was the recipient of a significant decrease in short interest during the month of May. As of May 15th, there was short interest totaling 3,577 shares, a decrease of 96.7% from the April 30th total of 107,766 shares. Currently, 0.7% of the company’s stock are sold short. Based on an average daily trading volume, of 9,957 shares, the days-to-cover ratio is currently 0.4 days.
Institutional Investors Weigh In On ProShares UltraShort Health Care
A hedge fund recently bought a new stake in ProShares UltraShort Health Care stock. IMC Chicago LLC purchased a new stake in ProShares UltraShort Health Care (NYSEARCA:RXD – Free Report) during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm purchased 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned about 4.29% of ProShares UltraShort Health Care as of its most recent filing with the Securities & Exchange Commission.
ProShares UltraShort Health Care Trading Down 3.1%
Shares of NYSEARCA:RXD traded down $0.62 during midday trading on Thursday, hitting $19.14. The company’s stock had a trading volume of 4,973 shares, compared to its average volume of 7,937. The stock’s 50 day simple moving average is $10.17 and its 200 day simple moving average is $9.48. ProShares UltraShort Health Care has a fifty-two week low of $16.92 and a fifty-two week high of $27.14.
About ProShares UltraShort Health Care
ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.
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