ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Sees Significant Drop in Short Interest

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 332 shares, a decrease of 78.6% from the August 15th total of 1,551 shares. Based on an average daily trading volume, of 3,618 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.4% of the shares of the stock are short sold.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Cloud Computing ETF

A hedge fund recently raised its stake in ProShares Ultra Nasdaq Cloud Computing ETF stock. Citadel Advisors LLC raised its stake in ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) by 156.7% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 8,506 shares of the company’s stock after buying an additional 23,506 shares during the quarter. Citadel Advisors LLC owned approximately 9.45% of ProShares Ultra Nasdaq Cloud Computing ETF worth $308,000 at the end of the most recent quarter.

ProShares Ultra Nasdaq Cloud Computing ETF Trading Down 1.9%

Shares of NASDAQ SKYU opened at $47.63 on Friday. The stock has a market cap of $4.29 million, a PE ratio of 29.23 and a beta of 2.54. ProShares Ultra Nasdaq Cloud Computing ETF has a 12-month low of $22.55 and a 12-month high of $55.90. The company has a 50-day moving average of $44.74 and a 200 day moving average of $35.92.

ProShares Ultra Nasdaq Cloud Computing ETF Company Profile

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.