ProShares UltraShort Technology (NYSEARCA:REW) Sees Large Drop in Short Interest

ProShares UltraShort Technology (NYSEARCA:REW) saw a large decline in short interest during the month of May. As of May 15th, there was short interest totaling 9,271 shares, a decline of 77.3% from the April 30th total of 40,775 shares. Approximately 2.2% of the shares of the company are short sold. Based on an average daily volume of 38,502 shares, the short-interest ratio is presently 0.2 days.

ProShares UltraShort Technology Trading Down 4.6%

Shares of NYSEARCA:REW traded down $0.57 on Friday, hitting $11.90. 8,471 shares of the company were exchanged, compared to its average volume of 26,306. ProShares UltraShort Technology has a 1-year low of $11.87 and a 1-year high of $36.88. The stock’s 50 day moving average price is $18.59 and its 200 day moving average price is $21.10.

Hedge Funds Weigh In On ProShares UltraShort Technology

An institutional investor recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. bought a new stake in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned 2.34% of ProShares UltraShort Technology at the end of the most recent reporting period.

ProShares UltraShort Technology Company Profile

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.