ProShares UltraShort S&P500 (NYSEARCA:SDS – Get Free Report) was the target of a significant growth in short interest in August. As of August 31st, there was short interest totaling 730,234 shares, a growth of 139.1% from the August 15th total of 305,431 shares. Currently, 10.0% of the shares of the stock are short sold. Based on an average daily volume of 2,176,397 shares, the short-interest ratio is currently 0.3 days.
Institutional Inflows and Outflows
A number of hedge funds and other institutional investors have recently added to or reduced their stakes in SDS. Beacon Financial Group acquired a new stake in ProShares UltraShort S&P500 in the 1st quarter valued at about $241,000. NewEdge Advisors LLC acquired a new stake in shares of ProShares UltraShort S&P500 in the first quarter valued at approximately $244,000. GABELLI & Co INVESTMENT ADVISERS INC. purchased a new position in ProShares UltraShort S&P500 during the first quarter worth approximately $421,000. Tidal Investments LLC purchased a new position in ProShares UltraShort S&P500 during the second quarter worth approximately $378,000. Finally, Ramsey Quantitative Systems acquired a new position in ProShares UltraShort S&P500 during the second quarter worth $432,000.
ProShares UltraShort S&P500 Stock Up 0.9%
Shares of SDS traded up $0.50 during mid-day trading on Monday, hitting $55.53. 3,700,920 shares of the company were exchanged, compared to its average volume of 3,507,410. ProShares UltraShort S&P500 has a 1-year low of $52.54 and a 1-year high of $80.50. The company has a 50 day moving average of $55.44 and a 200-day moving average of $61.07.
ProShares UltraShort S&P500 Company Profile
ProShares UltraShort S&P500 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P 500 (the Index). The Index is a measure of large-cap the United States stock market performance. It is a float-adjusted, market capitalization-weighted index of 500 United States operating companies and real estate investment trusts selected through a process that factors criteria, such as liquidity, price, market capitalization and financial viability.
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