ProShares S&P 500 Ex-Technology ETF (NYSEARCA:SPXT) Sees Large Decline in Short Interest

ProShares S&P 500 Ex-Technology ETF (NYSEARCA:SPXT) was the target of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 2,318 shares, a drop of 73.8% from the May 14th total of 8,848 shares. Based on an average daily volume of 12,676 shares, the days-to-cover ratio is currently 0.2 days. Currently, 0.1% of the company’s shares are sold short.

Hedge Funds Weigh In On ProShares S&P 500 Ex-Technology ETF

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SPXT. Ascentis Independent Advisors boosted its position in ProShares S&P 500 Ex-Technology ETF by 87.4% during the 1st quarter. Ascentis Independent Advisors now owns 22,443 shares of the company’s stock worth $2,274,000 after acquiring an additional 10,464 shares during the period. EP Wealth Advisors LLC acquired a new stake in shares of ProShares S&P 500 Ex-Technology ETF during the 4th quarter valued at $239,000. Osaic Holdings Inc. boosted its stake in shares of ProShares S&P 500 Ex-Technology ETF by 365.2% during the 4th quarter. Osaic Holdings Inc. now owns 1,470 shares of the company’s stock valued at $153,000 after buying an additional 1,154 shares during the period. Jane Street Group LLC acquired a new stake in shares of ProShares S&P 500 Ex-Technology ETF during the 4th quarter valued at $865,000. Finally, Commonwealth Equity Services LLC acquired a new stake in shares of ProShares S&P 500 Ex-Technology ETF during the 4th quarter valued at $248,000.

ProShares S&P 500 Ex-Technology ETF Stock Performance

Shares of NYSEARCA:SPXT traded up $0.99 during midday trading on Thursday, reaching $107.33. The company had a trading volume of 3,587 shares, compared to its average volume of 19,072. ProShares S&P 500 Ex-Technology ETF has a 1-year low of $92.99 and a 1-year high of $109.18. The firm has a market cap of $273.69 million, a price-to-earnings ratio of 22.39 and a beta of 0.86. The company has a fifty day simple moving average of $106.76 and a two-hundred day simple moving average of $105.50.

About ProShares S&P 500 Ex-Technology ETF

The ProShares S&P 500 ex-Technology ETF (SPXT) is an exchange-traded fund that is based on the S&P 500 Ex-Information Technology index, a market-cap-weighted index of US large-cap stocks, excluding firms in the technology sector. SPXT was launched on Sep 22, 2015 and is managed by ProShares.