Short Interest in ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) Expands By 347.1%

ProShares Ultra SpaceX ETF (NYSEARCA:SPCF) was the target of a large increase in short interest in the month of August. As of August 14th, there was short interest totaling 1,612,349 shares, an increase of 347.1% from the July 30th total of 360,597 shares. Based on an average daily volume of 6,580,279 shares, the short-interest ratio is currently 0.2 days. Currently, 33.5% of the shares of the company are short sold.

ProShares Ultra SpaceX ETF Price Performance

Shares of SPCF stock traded up $0.04 on Wednesday, reaching $14.54. The stock had a trading volume of 931,714 shares, compared to its average volume of 3,301,811. ProShares Ultra SpaceX ETF has a 1 year low of $8.85 and a 1 year high of $46.71. The stock’s 50 day simple moving average is $16.87.

About ProShares Ultra SpaceX ETF

SPCF, the ProShares Ultra SpaceX ETF, is a leveraged single-stock fund that seeks daily investment results, before fees and expenses, equal to 2x (200%) the daily performance of the common stock of SpaceX (SPCX). Because the fund pursues a daily objective and resets its exposure each day, it is designed as a short-term, tactical tool rather than a buy-and-hold investment: over any holding period longer than a single day, returns can differ significantly from 2x the underlying stock’s performance, and that gap tends to widen in more volatile markets.