ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) Sees Significant Drop in Short Interest

ProShares UltraShort MidCap 400 (NYSEARCA:MZZ) was the recipient of a large drop in short interest in October. As of October 15th, there was short interest totaling 590 shares, a drop of 53.6% from the September 30th total of 1,271 shares. Based on an average trading volume of 1,699 shares, the days-to-cover ratio is currently 0.3 days. Currently, 0.1% of the shares of the stock are short sold.

ProShares UltraShort MidCap 400 Stock Performance

MZZ traded up $0.16 during midday trading on Friday, reaching $6.43. 1,154 shares of the company’s stock were exchanged, compared to its average volume of 8,803. ProShares UltraShort MidCap 400 has a 1-year low of $5.55 and a 1-year high of $9.08. The business’s 50-day moving average price is $6.33 and its 200 day moving average price is $6.49.

About ProShares UltraShort MidCap 400

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.