ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the recipient of a large decrease in short interest in July. As of July 31st, there was short interest totaling 10,768 shares, a decrease of 49.5% from the July 15th total of 21,308 shares. Approximately 4.0% of the shares of the company are short sold. Based on an average trading volume of 41,963 shares, the short-interest ratio is currently 0.3 days.
Institutional Inflows and Outflows
A hedge fund recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. purchased a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology at the end of the most recent reporting period.
ProShares UltraShort Technology Price Performance
Shares of REW stock traded up $0.08 during mid-day trading on Friday, reaching $11.10. The stock had a trading volume of 6,803 shares, compared to its average volume of 29,506. The firm’s 50 day simple moving average is $12.32 and its 200 day simple moving average is $17.25. ProShares UltraShort Technology has a one year low of $10.88 and a one year high of $29.00.
About ProShares UltraShort Technology
ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.
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