ProShares Hedge Replication ETF (NYSEARCA:HDG) Sees Large Drop in Short Interest
by Sarita Garza · The Markets DailyProShares Hedge Replication ETF (NYSEARCA:HDG – Get Free Report) saw a significant decrease in short interest during the month of July. As of July 31st, there was short interest totaling 1,922 shares, a decrease of 52.0% from the July 15th total of 4,007 shares. Based on an average daily volume of 1,264 shares, the days-to-cover ratio is currently 1.5 days. Approximately 0.5% of the shares of the company are sold short.
ProShares Hedge Replication ETF Stock Performance
Shares of NYSEARCA HDG traded down $0.10 during trading hours on Friday, reaching $55.03. 105 shares of the stock were exchanged, compared to its average volume of 1,768. The firm has a market capitalization of $22.56 million, a price-to-earnings ratio of 17.30 and a beta of 0.32. The stock’s fifty day simple moving average is $54.54 and its 200 day simple moving average is $53.46. ProShares Hedge Replication ETF has a 52 week low of $49.91 and a 52 week high of $55.34.
Institutional Investors Weigh In On ProShares Hedge Replication ETF
A number of hedge funds and other institutional investors have recently made changes to their positions in HDG. Western Wealth Management LLC bought a new position in shares of ProShares Hedge Replication ETF in the first quarter worth $93,000. Susquehanna International Group LLP lifted its position in ProShares Hedge Replication ETF by 38.3% during the third quarter. Susquehanna International Group LLP now owns 10,504 shares of the company’s stock worth $537,000 after purchasing an additional 2,908 shares during the period. National Bank of Canada FI lifted its position in ProShares Hedge Replication ETF by 8.0% during the third quarter. National Bank of Canada FI now owns 7,046 shares of the company’s stock worth $359,000 after purchasing an additional 519 shares during the period. Raymond James Financial Inc. grew its stake in ProShares Hedge Replication ETF by 2.1% during the third quarter. Raymond James Financial Inc. now owns 43,298 shares of the company’s stock worth $2,212,000 after buying an additional 895 shares in the last quarter. Finally, Independent Wealth Advisors LLC acquired a new stake in ProShares Hedge Replication ETF during the first quarter worth about $298,000.
About ProShares Hedge Replication ETF
The ProShares Hedge Replication ETF (HDG) is an exchange-traded fund that mostly invests in multi-strategy alternatives. The fund tracks an index that uses long and short exposure to equity, Treasury and currency indexes, and individual securities to mimic the returns of a broad hedge fund index. HDG was launched on Jul 12, 2011 and is managed by ProShares.