ProShares UltraShort Utilities (NYSEARCA:SDP) Short Interest Up 224.6% in August

ProShares UltraShort Utilities (NYSEARCA:SDP – Get Free Report) saw a significant increase in short interest during the month of August. As of August 31st, there was short interest totaling 6,077 shares, an increase of 224.6% from the August 15th total of 1,872 shares. Based on an average daily volume of 4,641 shares, the days-to-cover ratio is currently 1.3 days. Approximately 3.4% of the shares of the company are short sold.

ProShares UltraShort Utilities Stock Performance

Shares of NYSEARCA SDP traded up $0.21 during trading on Friday, reaching $24.72. 15,387 shares of the company traded hands, compared to its average volume of 5,840. The firm’s fifty day simple moving average is $22.77 and its 200 day simple moving average is $22.05. ProShares UltraShort Utilities has a 12-month low of $19.78 and a 12-month high of $26.77.

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ProShares UltraShort Utilities Company Profile

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ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.

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