ProShares UltraShort Health Care (NYSEARCA:RXD – Get Free Report) was the target of a large increase in short interest in the month of June. As of June 30th, there was short interest totaling 4,365 shares, an increase of 155.7% from the June 15th total of 1,707 shares. Currently, 2.3% of the company’s shares are sold short. Based on an average daily volume of 3,042 shares, the days-to-cover ratio is presently 1.4 days.
ProShares UltraShort Health Care Stock Performance
Shares of RXD stock traded up $0.02 during trading hours on Wednesday, hitting $17.11. The company had a trading volume of 8,943 shares, compared to its average volume of 6,997. The company’s fifty day moving average is $18.69 and its 200 day moving average is $18.81. ProShares UltraShort Health Care has a fifty-two week low of $15.68 and a fifty-two week high of $26.92.
Hedge Funds Weigh In On ProShares UltraShort Health Care
A hedge fund recently bought a new position in ProShares UltraShort Health Care stock. IMC Chicago LLC purchased a new position in shares of ProShares UltraShort Health Care (NYSEARCA:RXD – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor purchased 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned approximately 4.29% of ProShares UltraShort Health Care as of its most recent filing with the Securities & Exchange Commission.
ProShares UltraShort Health Care Company Profile
ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care 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.
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