ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) saw a significant increase in short interest in June. As of June 30th, there was short interest totaling 2,957 shares, an increase of 173.5% from the June 15th total of 1,081 shares. Based on an average daily trading volume, of 22,293 shares, the short-interest ratio is presently 0.1 days. Approximately 1.2% of the shares of the stock are short sold.
ProShares UltraShort Technology Price Performance
Shares of REW stock traded up $0.30 during midday trading on Wednesday, reaching $12.41. 18,924 shares of the company traded hands, compared to its average volume of 28,016. The firm’s 50 day simple moving average is $12.72 and its two-hundred day simple moving average is $18.74. ProShares UltraShort Technology has a 1-year low of $11.03 and a 1-year high of $29.00.
Institutional Trading of ProShares UltraShort Technology
An institutional investor recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. bought a new stake in ProShares UltraShort Technology (NYSEARCA:REW – Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 2.34% of ProShares UltraShort Technology as of its most recent filing with the Securities & Exchange Commission.
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.
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