ProShares UltraShort Utilities (NYSEARCA:SDP) Sees Large Increase in Short Interest

ProShares UltraShort Utilities (NYSEARCA:SDP) was the recipient of a large growth in short interest during the month of September. As of September 30th, there was short interest totaling 17,655 shares, a growth of 166.9% from the September 15th total of 6,615 shares. Based on an average daily volume of 27,872 shares, the days-to-cover ratio is presently 0.6 days. Currently, 35.3% of the shares of the company are short sold.

ProShares UltraShort Utilities Price Performance

Shares of NYSEARCA:SDP traded down $0.27 during trading on Tuesday, hitting $24.90. The company’s stock had a trading volume of 15,002 shares, compared to its average volume of 7,664. The company has a 50-day moving average of $24.98 and a 200-day moving average of $22.93. ProShares UltraShort Utilities has a 12 month low of $19.78 and a 12 month high of $28.50.

About ProShares UltraShort Utilities

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.