ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Shares Shorted: Short Interest Up 428.3% in September

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the recipient of a significant growth in short interest during the month of September. As of September 15th, there was short interest totaling 1,754 shares, a growth of 428.3% from the August 31st total of 332 shares. Based on an average trading volume of 18,361 shares, the days-to-cover ratio is presently 0.1 days. Currently, 1.5% of the company’s shares are short sold.

ProShares Ultra Nasdaq Cloud Computing ETF Price Performance

ProShares Ultra Nasdaq Cloud Computing ETF stock opened at $53.93 on Friday. The company has a market cap of $6.47 million, a price-to-earnings 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 stock’s 50-day moving average is $47.52 and its 200-day moving average is $37.78.

Hedge Funds Weigh In On ProShares Ultra Nasdaq Cloud Computing ETF

An institutional investor recently raised its stake in ProShares Ultra Nasdaq Cloud Computing ETF stock. Citadel Advisors LLC boosted 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 13F filing with the Securities and Exchange Commission. The institutional investor owned 8,506 shares of the company’s stock after purchasing an additional 23,506 shares during the period. Citadel Advisors LLC owned approximately 9.45% of ProShares Ultra Nasdaq Cloud Computing ETF worth $308,000 at the end of the most recent reporting period.

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.