ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the target of a significant decline in short interest in the month of September. As of September 30th, there was short interest totaling 20,491 shares, a decline of 64.9% from the September 15th total of 58,320 shares. Based on an average trading volume of 40,902 shares, the days-to-cover ratio is presently 0.5 days. Currently, 5.4% of the shares of the company are short sold.
Hedge Funds Weigh In On ProShares UltraShort Technology
An institutional investor recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new stake in ProShares UltraShort Technology (NYSEARCA:REW – Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.
ProShares UltraShort Technology Trading Up 2.6%
NYSEARCA REW traded up $0.27 during trading hours on Monday, hitting $10.29. 10,588 shares of the stock were exchanged, compared to its average volume of 31,853. ProShares UltraShort Technology has a 12-month low of $9.60 and a 12-month high of $27.67. The stock has a 50-day moving average of $11.17 and a 200 day moving average of $13.91.
ProShares UltraShort Technology Company Profile
ProShares UltraShort Technology (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Technology Index (the Index). The Index measures the performance of the technology industry of the United States equity market. Component companies include those involved in computers and office equipment, software, communications technology, semiconductors, diversified technology services and Internet services. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the Index.
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