ProShares Short High Yield (NYSEARCA:SJB) Sees Significant Decline in Short Interest

ProShares Short High Yield (NYSEARCA:SJB) saw a large drop in short interest in the month of August. As of August 31st, there was short interest totaling 76,841 shares, a drop of 46.8% from the August 15th total of 144,317 shares. Currently, 2.4% of the shares of the stock are sold short. Based on an average trading volume of 108,968 shares, the short-interest ratio is presently 0.7 days.

Institutional Investors Weigh In On ProShares Short High Yield

Large investors have recently modified their holdings of the stock. Bravias Capital Group LLC bought a new position in shares of ProShares Short High Yield during the 1st quarter worth approximately $162,000. Private Advisor Group LLC acquired a new position in ProShares Short High Yield during the first quarter worth $155,000. Merkkuri Wealth Advisors LLC acquired a new position in ProShares Short High Yield during the first quarter worth $147,000. Finally, Purpose Unlimited Inc. bought a new position in shares of ProShares Short High Yield during the fourth quarter valued at $440,000.

ProShares Short High Yield Stock Performance

NYSEARCA SJB traded up $0.04 on Tuesday, reaching $15.35. The company’s stock had a trading volume of 145,670 shares, compared to its average volume of 252,207. The business has a 50-day moving average price of $15.18 and a 200 day moving average price of $15.29. ProShares Short High Yield has a 52 week low of $15.05 and a 52 week high of $15.71.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.