ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the recipient of a large growth in short interest in August. As of August 14th, there was short interest totaling 31,684 shares, a growth of 194.2% from the July 30th total of 10,768 shares. Based on an average daily trading volume, of 34,500 shares, the short-interest ratio is currently 0.9 days. Currently, 11.7% of the shares of the stock are sold short.
ProShares UltraShort Technology Price Performance
ProShares UltraShort Technology stock traded up $0.36 during trading on Friday, reaching $11.57. The company had a trading volume of 83,004 shares, compared to its average volume of 29,360. The firm’s 50-day simple moving average is $12.21 and its 200 day simple moving average is $16.59. ProShares UltraShort Technology has a 1-year low of $10.88 and a 1-year high of $28.88.
Institutional Trading of ProShares UltraShort Technology
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) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.
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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