ProShares UltraShort Technology (NYSEARCA:REW) Short Interest Up 620.6% in July

ProShares UltraShort Technology (NYSEARCA:REW) was the recipient of a significant increase in short interest in July. As of July 15th, there was short interest totaling 21,308 shares, an increase of 620.6% from the June 30th total of 2,957 shares. Based on an average daily volume of 24,249 shares, the short-interest ratio is presently 0.9 days. Currently, 8.2% of the shares of the stock are sold short.

ProShares UltraShort Technology Price Performance

NYSEARCA REW traded up $0.41 on Friday, reaching $13.21. The company’s stock had a trading volume of 9,348 shares, compared to its average volume of 28,501. ProShares UltraShort Technology has a twelve month low of $11.03 and a twelve month high of $29.00. The firm’s 50 day moving average is $12.49 and its two-hundred day moving average is $18.27.

Institutional Investors Weigh In On ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. purchased a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.

About ProShares UltraShort Technology

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.