Short Interest in ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) Drops By 43.5%

ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) was the target of a large drop in short interest in the month of July. As of July 31st, there was short interest totaling 2,013 shares, a drop of 43.5% from the July 15th total of 3,562 shares. Approximately 0.5% of the company’s shares are short sold. Based on an average daily trading volume, of 3,054 shares, the days-to-cover ratio is presently 0.7 days.

ProShares UltraShort MidCap 400 Stock Performance

MZZ stock traded up $0.03 during midday trading on Monday, hitting $5.59. 5,689 shares of the company’s stock were exchanged, compared to its average volume of 10,432. The stock’s fifty day moving average price is $5.93 and its 200-day moving average price is $6.53. ProShares UltraShort MidCap 400 has a one year low of $5.55 and a one year high of $9.08.

Institutional Investors Weigh In On ProShares UltraShort MidCap 400

A hedge fund recently raised its stake in ProShares UltraShort MidCap 400 stock. Tower Research Capital LLC TRC increased its holdings in shares of ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) by 6.3% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 22,882 shares of the company’s stock after purchasing an additional 1,354 shares during the period. Tower Research Capital LLC TRC owned approximately 16.34% of ProShares UltraShort MidCap 400 worth $210,000 at the end of the most recent quarter.

ProShares UltraShort MidCap 400 Company Profile

ProShares UltraShort MidCap400 (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the S&P MidCap 400 Index (the Index). The Index is a measure of mid-size company United States stock market performance. It is a float-adjusted market capitalization weighted index of 400 United States operating companies and real estate investment trusts (REITs). Securities are selected for inclusion in the Index by the S&P U.S. Index Committee through a non-mechanical process that factors criteria, such as liquidity, price, market capitalization and financial viability.