Short Interest in ProShares UltraShort Technology (NYSEARCA:REW) Decreases By 86.0%
by Scott Moore · The Cerbat GemProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the recipient of a significant decline in short interest during the month of December. As of December 31st, there was short interest totaling 2,786 shares, a decline of 86.0% from the December 15th total of 19,835 shares. Approximately 0.6% of the shares of the company are sold short. Based on an average daily trading volume, of 24,689 shares, the days-to-cover ratio is presently 0.1 days. Based on an average daily trading volume, of 24,689 shares, the days-to-cover ratio is presently 0.1 days. Approximately 0.6% of the shares of the company are sold short.
ProShares UltraShort Technology Stock Performance
Shares of REW traded down $0.09 during mid-day trading on Monday, reaching $10.60. The company’s stock had a trading volume of 6,099 shares, compared to its average volume of 35,085. ProShares UltraShort Technology has a 1-year low of $9.99 and a 1-year high of $34.44. The business has a 50-day simple moving average of $11.13 and a two-hundred day simple moving average of $12.32.
Hedge Funds Weigh In On ProShares UltraShort Technology
A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. Benchmark Financial Wealth Advisors LLC bought a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 17,776 shares of the company’s stock, valued at approximately $105,000. Benchmark Financial Wealth Advisors LLC owned about 2.82% of ProShares UltraShort Technology as of its most recent filing with the Securities and Exchange Commission.
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.