ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Stock Short Interest Drops 86.2%

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) was the target of a significant drop in short interest in the month of October. As of October 15th, there was short interest totaling 246 shares, a drop of 86.2% from the September 30th total of 1,788 shares. Based on an average daily volume of 7,690 shares, the short-interest ratio is currently 0.0 days. Currently, 0.3% of the shares of the company are sold short.

ProShares Ultra Nasdaq Cloud Computing ETF Price Performance

ProShares Ultra Nasdaq Cloud Computing ETF stock traded down $0.48 during mid-day trading on Wednesday, hitting $55.61. 1,854 shares of the company’s stock traded hands, compared to its average volume of 3,883. The firm has a 50 day simple moving average of $52.32 and a two-hundred day simple moving average of $37.99. ProShares Ultra Nasdaq Cloud Computing ETF has a fifty-two week low of $22.55 and a fifty-two week high of $58.86. The stock has a market cap of $4.45 million, a price-to-earnings ratio of 29.23 and a beta of 2.58.

Institutional Investors Weigh In On ProShares Ultra Nasdaq Cloud Computing ETF

An institutional investor recently bought a new position in ProShares Ultra Nasdaq Cloud Computing ETF stock. Client First Investment Management LLC purchased a new stake in ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 41,775 shares of the company’s stock, valued at approximately $2,172,000. ProShares Ultra Nasdaq Cloud Computing ETF accounts for approximately 1.0% of Client First Investment Management LLC’s investment portfolio, making the stock its 15th biggest position. Client First Investment Management LLC owned about 34.81% of ProShares Ultra Nasdaq Cloud Computing ETF at the end of the most recent reporting period.

About ProShares Ultra Nasdaq Cloud Computing ETF

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.