ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Up 112.3% in January

ProShares UltraShort Financials (NYSEARCA:SKF) was the target of a large increase in short interest during the month of January. As of January 15th, there was short interest totaling 21,205 shares, an increase of 112.3% from the December 31st total of 9,990 shares. Based on an average trading volume of 22,354 shares, the days-to-cover ratio is currently 0.9 days. Approximately 5.4% of the company’s stock are sold short. Approximately 5.4% of the company’s stock are sold short. Based on an average trading volume of 22,354 shares, the days-to-cover ratio is currently 0.9 days.

ProShares UltraShort Financials Stock Performance

SKF stock opened at $26.73 on Friday. ProShares UltraShort Financials has a fifty-two week low of $23.86 and a fifty-two week high of $44.19. The business has a 50 day moving average price of $26.09 and a 200 day moving average price of $27.11.

Institutional Inflows and Outflows

A hedge fund recently raised its stake in ProShares UltraShort Financials stock. Tower Research Capital LLC TRC grew its stake in shares of ProShares UltraShort Financials (NYSEARCA:SKF) by 907.3% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 13,840 shares of the company’s stock after purchasing an additional 12,466 shares during the quarter. Tower Research Capital LLC TRC owned 3.74% of ProShares UltraShort Financials worth $388,000 at the end of the most recent 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.