ProShares UltraShort Consumer Discretionary (NYSEARCA:SCC) Sees Large Decrease in Short Interest

ProShares UltraShort Consumer Discretionary (NYSEARCA:SCC) saw a significant drop in short interest in February. As of February 27th, there was short interest totaling 7,438 shares, a drop of 81.7% from the February 12th total of 40,589 shares. Based on an average daily trading volume, of 24,204 shares, the days-to-cover ratio is presently 0.3 days. Approximately 5.3% of the shares of the stock are short sold. Approximately 5.3% of the shares of the stock are short sold. Based on an average daily trading volume, of 24,204 shares, the days-to-cover ratio is presently 0.3 days.

ProShares UltraShort Consumer Discretionary Stock Up 4.6%

Shares of NYSEARCA SCC traded up $0.73 during midday trading on Thursday, hitting $16.53. The stock had a trading volume of 50,228 shares, compared to its average volume of 18,928. ProShares UltraShort Consumer Discretionary has a fifty-two week low of $13.12 and a fifty-two week high of $29.71. The company’s 50-day simple moving average is $14.55 and its 200 day simple moving average is $14.72.

About ProShares UltraShort Consumer Discretionary

ProShares UltraShort Consumer Services (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Consumer Services Index (the Index). The Index measures the performance of consumer spending in the services industry of the United States equity market. Component companies include airlines, broadcasting and entertainment, apparel and broadline retailers, food and drug retailers, media agencies, publishing, gambling, hotels, restaurants and bars, and travel and tourism.