ProShares Ultra MidCap 400 (NYSEARCA:MVV) Sees Significant Decrease in Short Interest

ProShares Ultra MidCap 400 (NYSEARCA:MVV) was the target of a large decline in short interest in the month of January. As of January 30th, there was short interest totaling 5,639 shares, a decline of 37.9% from the January 15th total of 9,083 shares. Approximately 0.3% of the shares of the company are sold short. Based on an average daily volume of 27,025 shares, the days-to-cover ratio is presently 0.2 days. Based on an average daily volume of 27,025 shares, the days-to-cover ratio is presently 0.2 days. Approximately 0.3% of the shares of the company are sold short.

ProShares Ultra MidCap 400 Price Performance

Shares of MVV traded up $1.95 on Friday, reaching $80.95. The company’s stock had a trading volume of 11,274 shares, compared to its average volume of 25,151. ProShares Ultra MidCap 400 has a 12-month low of $42.64 and a 12-month high of $83.01. The stock has a market capitalization of $153.81 million, a P/E ratio of 19.18 and a beta of 2.15. The stock’s 50 day simple moving average is $74.96 and its two-hundred day simple moving average is $70.42.

Hedge Funds Weigh In On ProShares Ultra MidCap 400

A number of institutional investors have recently bought and sold shares of the stock. Farther Finance Advisors LLC purchased a new position in shares of ProShares Ultra MidCap 400 during the 4th quarter valued at about $27,000. Tucker Asset Management LLC bought a new position in ProShares Ultra MidCap 400 in the 4th quarter worth $37,000. Traynor Capital Management Inc. purchased a new stake in ProShares Ultra MidCap 400 in the 3rd quarter worth $208,000. Osaic Holdings Inc. purchased a new position in shares of ProShares Ultra MidCap 400 in the second quarter valued at about $195,000. Finally, Kingsview Wealth Management LLC purchased a new stake in shares of ProShares Ultra MidCap 400 in the second quarter worth about $222,000.

About ProShares Ultra MidCap 400

ProShares Ultra MidCap400 (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the S&P MidCap 400 Index (the Index). The Index is a measure of mid-size company United States stock market performance. It is a float-adjusted market capitalization weighted index of 400 United States operating companies and real estate investment trusts (REITs). Securities are selected for inclusion in the Index by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.