ProShares UltraShort Technology (NYSEARCA:REW) Short Interest Update
by Michael Walen · The Markets DailyProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the recipient of a large decrease in short interest during the month of July. As of July 31st, there was short interest totaling 10,768 shares, a decrease of 49.5% from the July 15th total of 21,308 shares. Currently, 4.0% of the shares of the company are sold short. Based on an average daily volume of 41,963 shares, the days-to-cover ratio is presently 0.3 days.
Institutional Trading of ProShares UltraShort Technology
A hedge fund recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.
ProShares UltraShort Technology Stock Down 0.2%
Shares of REW traded down $0.02 during trading hours on Monday, reaching $11.08. 3,185 shares of the company traded hands, compared to its average volume of 29,340. The stock’s fifty day moving average is $12.29 and its 200 day moving average is $17.19. ProShares UltraShort Technology has a 1-year low of $10.88 and a 1-year high of $29.00.
About ProShares UltraShort Technology
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.