ProShares UltraShort Utilities (NYSEARCA:SDP) Shares Shorted: Short Interest Up 166.9% in September

ProShares UltraShort Utilities (NYSEARCA:SDP) was the recipient of a large growth in short interest in the month of September. As of September 30th, there was short interest totaling 17,655 shares, a growth of 166.9% from the September 15th total of 6,615 shares. Currently, 35.3% of the shares of the company are short sold. Based on an average daily trading volume, of 27,872 shares, the days-to-cover ratio is presently 0.6 days.

ProShares UltraShort Utilities Price Performance

Shares of NYSEARCA SDP traded down $0.26 during midday trading on Monday, hitting $25.20. 11,231 shares of the company’s stock traded hands, compared to its average volume of 7,596. ProShares UltraShort Utilities has a 1 year low of $19.78 and a 1 year high of $28.50. The firm has a fifty day moving average of $24.88 and a 200 day moving average of $22.89.

ProShares UltraShort Utilities Company Profile

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities 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.