ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Down 30.7% in February

ProShares UltraShort Financials (NYSEARCA:SKF) was the recipient of a large decline in short interest in the month of February. As of February 27th, there was short interest totaling 15,611 shares, a decline of 30.7% from the February 12th total of 22,528 shares. Approximately 4.0% of the company’s shares are short sold. Based on an average daily trading volume, of 38,457 shares, the days-to-cover ratio is presently 0.4 days. Based on an average daily trading volume, of 38,457 shares, the days-to-cover ratio is presently 0.4 days. Approximately 4.0% of the company’s shares are short sold.

ProShares UltraShort Financials Trading Down 0.0%

Shares of NYSEARCA SKF traded down $0.01 during trading on Friday, reaching $31.98. The company had a trading volume of 109,940 shares, compared to its average volume of 35,144. The company’s fifty day moving average price is $27.42 and its 200-day moving average price is $27.19. ProShares UltraShort Financials has a 12 month low of $23.86 and a 12 month high of $44.19.

Institutional Trading of ProShares UltraShort Financials

Several institutional investors have recently added to or reduced their stakes in the stock. Group One Trading LLC bought a new position in ProShares UltraShort Financials during the 2nd quarter worth approximately $37,000. Tower Research Capital LLC TRC boosted its stake in shares of ProShares UltraShort Financials by 907.3% in the 2nd quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock valued at $388,000 after purchasing an additional 12,466 shares during the last quarter. Finally, Northwestern Mutual Wealth Management Co. boosted its stake in shares of ProShares UltraShort Financials by 20,938.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock valued at $166,000 after purchasing an additional 6,491 shares during the last quarter.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.