ProShares Short High Yield (NYSEARCA:SJB) Short Interest Up 2,391.4% in March

ProShares Short High Yield (NYSEARCA:SJB) saw a large increase in short interest in March. As of March 13th, there was short interest totaling 985,931 shares, an increase of 2,391.4% from the February 26th total of 39,573 shares. Currently, 34.6% of the company’s shares are sold short. Based on an average daily trading volume, of 822,880 shares, the days-to-cover ratio is currently 1.2 days. Based on an average daily trading volume, of 822,880 shares, the days-to-cover ratio is currently 1.2 days. Currently, 34.6% of the company’s shares are sold short.

Institutional Investors Weigh In On ProShares Short High Yield

Several hedge funds and other institutional investors have recently bought and sold shares of the company. BNP Paribas Financial Markets purchased a new position in ProShares Short High Yield during the second quarter worth about $135,000. Simplex Trading LLC grew its stake in shares of ProShares Short High Yield by 1,673.5% in the 4th quarter. Simplex Trading LLC now owns 10,162 shares of the company’s stock valued at $155,000 after buying an additional 9,589 shares during the period. IMC Chicago LLC acquired a new stake in shares of ProShares Short High Yield during the 4th quarter worth approximately $212,000. HRT Financial LP purchased a new stake in shares of ProShares Short High Yield during the 4th quarter valued at approximately $235,000. Finally, Two Sigma Securities LLC purchased a new stake in shares of ProShares Short High Yield during the 2nd quarter valued at approximately $358,000.

ProShares Short High Yield Stock Up 0.3%

Shares of SJB opened at $15.60 on Wednesday. ProShares Short High Yield has a 52-week low of $15.18 and a 52-week high of $16.95. The stock has a fifty day simple moving average of $15.33 and a two-hundred day simple moving average of $15.39.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.