ProShares UltraShort Financials (NYSEARCA:SKF) Short Interest Update

ProShares UltraShort Financials (NYSEARCA:SKF) was the recipient of a significant increase in short interest during the month of June. As of June 30th, there was short interest totaling 6,354 shares, an increase of 87.2% from the June 15th total of 3,395 shares. Based on an average daily trading volume, of 13,330 shares, the short-interest ratio is presently 0.5 days. Currently, 1.5% of the company’s shares are sold short.

ProShares UltraShort Financials Stock Performance

Shares of SKF stock traded up $0.41 on Friday, reaching $23.67. The company had a trading volume of 11,404 shares, compared to its average volume of 29,704. The company has a 50-day moving average of $26.65 and a 200-day moving average of $27.62. ProShares UltraShort Financials has a 12 month low of $23.20 and a 12 month high of $33.06.

Institutional Investors Weigh In On ProShares UltraShort Financials

Several large investors have recently bought and sold shares of SKF. Group One Trading LLC bought a new position in shares of ProShares UltraShort Financials during the second quarter worth $37,000. Northwestern Mutual Wealth Management Co. increased its position in shares of ProShares UltraShort Financials by 20,938.7% in the 4th quarter. Northwestern Mutual Wealth Management Co. now owns 6,522 shares of the company’s stock valued at $166,000 after buying an additional 6,491 shares in the last quarter. Finally, Tower Research Capital LLC TRC raised its stake in ProShares UltraShort Financials by 907.3% during the 2nd quarter. Tower Research Capital LLC TRC now owns 13,840 shares of the company’s stock worth $388,000 after buying an additional 12,466 shares during the period.

About ProShares UltraShort Financials

ProShares UltraShort Financials (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services industry of the United States equity market. Component companies include regional banks; United States-domiciled international banks; full line, life and property and casualty insurance companies; companies that invest directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association, credit card issuers and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.