ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) Sees Large Increase in Short Interest

ProShares UltraPro Short S&P 500 (NYSEARCA:SPXU) saw a significant increase in short interest during the month of March. As of March 13th, there was short interest totaling 972,681 shares, an increase of 18.3% from the February 26th total of 822,041 shares. Based on an average daily trading volume, of 10,908,262 shares, the short-interest ratio is currently 0.1 days. Approximately 10.8% of the shares of the stock are short sold.

ProShares UltraPro Short S&P 500 Stock Performance

NYSEARCA SPXU opened at $55.43 on Thursday. ProShares UltraPro Short S&P 500 has a 1-year low of $46.65 and a 1-year high of $153.00. The business has a 50 day simple moving average of $51.31 and a two-hundred day simple moving average of $51.62.

ProShares UltraPro Short S&P 500 Cuts Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th were paid a dividend of $0.4452 per share. The ex-dividend date of this dividend was Wednesday, March 25th. This represents a $1.78 dividend on an annualized basis and a yield of 3.2%.

Hedge Funds Weigh In On ProShares UltraPro Short S&P 500

A number of institutional investors and hedge funds have recently made changes to their positions in the business. TD Waterhouse Canada Inc. purchased a new position in shares of ProShares UltraPro Short S&P 500 in the 3rd quarter worth approximately $27,000. Optiver Holding B.V. purchased a new stake in ProShares UltraPro Short S&P 500 during the 3rd quarter valued at $38,000. SBI Securities Co. Ltd. lifted its position in ProShares UltraPro Short S&P 500 by 620.0% in the third quarter. SBI Securities Co. Ltd. now owns 4,795 shares of the exchange traded fund’s stock worth $65,000 after buying an additional 4,129 shares during the last quarter. EverSource Wealth Advisors LLC boosted its stake in ProShares UltraPro Short S&P 500 by 18.7% during the second quarter. EverSource Wealth Advisors LLC now owns 6,200 shares of the exchange traded fund’s stock worth $104,000 after buying an additional 975 shares during the period. Finally, Fortitude Advisory Group L.L.C. purchased a new position in ProShares UltraPro Short S&P 500 during the third quarter worth $157,000.

ProShares UltraPro Short S&P 500 Company Profile

The Fund seeks daily investment results that correspond to triple the inverse of the daily performance of the Index. The Fund invests in derivatives that it believes should have similar daily return characteristics as triple the inverse of the daily performance of the Index.