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

ProShares UltraShort Technology (NYSEARCA:REW) saw a significant increase in short interest in July. As of July 15th, there was short interest totaling 21,308 shares, an increase of 620.6% from the June 30th total of 2,957 shares. Currently, 8.2% of the shares of the stock are sold short. Based on an average daily volume of 24,249 shares, the days-to-cover ratio is currently 0.9 days.

Hedge Funds Weigh In On ProShares UltraShort Technology

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

ProShares UltraShort Technology Stock Up 3.2%

Shares of NYSEARCA REW traded up $0.41 during midday trading on Friday, hitting $13.21. The stock had a trading volume of 9,348 shares, compared to its average volume of 28,501. ProShares UltraShort Technology has a fifty-two week low of $11.03 and a fifty-two week high of $29.00. The company’s 50-day simple moving average is $12.49 and its 200 day simple moving average is $18.27.

ProShares UltraShort Technology Company Profile

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.