ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) Short Interest Up 89.6% in June

ProShares UltraPro Short Dow30 (NYSEARCA:SDOW) was the target of a large increase in short interest during the month of June. As of June 15th, there was short interest totaling 811,181 shares, an increase of 89.6% from the May 31st total of 427,870 shares. Based on an average trading volume of 5,492,958 shares, the days-to-cover ratio is currently 0.1 days. Approximately 12.9% of the company’s stock are sold short.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. Quadrature Capital Ltd acquired a new position in ProShares UltraPro Short Dow30 in the fourth quarter valued at $3,681,000. IMC Chicago LLC purchased a new stake in shares of ProShares UltraPro Short Dow30 in the 4th quarter valued at about $3,393,000. Squarepoint Ops LLC boosted its position in shares of ProShares UltraPro Short Dow30 by 246.1% in the 2nd quarter. Squarepoint Ops LLC now owns 80,829 shares of the exchange traded fund’s stock valued at $3,352,000 after purchasing an additional 57,476 shares during the period. Goldman Sachs Group Inc. purchased a new position in ProShares UltraPro Short Dow30 during the 4th quarter worth approximately $1,598,000. Finally, Group One Trading LLC increased its position in ProShares UltraPro Short Dow30 by 335.7% during the first quarter. Group One Trading LLC now owns 58,829 shares of the exchange traded fund’s stock worth $2,071,000 after buying an additional 45,328 shares during the period.

ProShares UltraPro Short Dow30 Price Performance

Shares of NYSEARCA SDOW traded down $0.10 during midday trading on Wednesday, hitting $24.07. 2,664,244 shares of the company’s stock were exchanged, compared to its average volume of 6,004,313. The firm’s fifty day simple moving average is $27.16 and its 200-day simple moving average is $29.97. ProShares UltraPro Short Dow30 has a twelve month low of $23.58 and a twelve month high of $43.92.

ProShares UltraPro Short Dow30 Company Profile

ProShares UltraPro Short Dow30 (the Fund) seeks daily investment results that correspond to three times (300%) the inverse (opposite) of the daily performance of the Dow Jones Industrial Average (the Index). The Index is a price-weighted index maintained by editors of The Wall Street Journal. The Index includes 30 large-cap, United States stocks, excluding utility and transportation companies. The Fund invests in financial instruments whose value is derived from the value of an underlying asset, interest rate or index.