ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the recipient of a large decline in short interest during the month of September. As of September 30th, there was short interest totaling 20,491 shares, a decline of 64.9% from the September 15th total of 58,320 shares. Based on an average daily volume of 40,902 shares, the days-to-cover ratio is currently 0.5 days. Approximately 5.4% of the shares of the company are sold short.
ProShares UltraShort Technology Stock Up 6.1%
ProShares UltraShort Technology stock traded up $0.63 during trading hours on Wednesday, reaching $10.91. 73,348 shares of the company were exchanged, compared to its average volume of 32,534. The stock has a 50-day moving average of $11.10 and a 200 day moving average of $13.72. ProShares UltraShort Technology has a 12 month low of $9.60 and a 12 month high of $27.67.
Institutional Trading of ProShares UltraShort Technology
A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 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 quarter.
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.
Further Reading
- Five stocks we like better than ProShares UltraShort Technology
- Tesla Wants to Make Its Own Chips—What Could Go Wrong?
- IREN Limited’s AI Pivot Gains Traction—But Can Its Data Centers Deliver?
- PBF Energy’s Stunning Rally Faces a Critical Test
- Citi Stock Falls Despite Earnings Beat: What Investors Need to Know
Receive News & Ratings for ProShares UltraShort Technology Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for ProShares UltraShort Technology and related companies with MarketBeat.com's FREE daily email newsletter.
