ProShares Short High Yield (NYSEARCA:SJB) Sees Significant Decrease in Short Interest

ProShares Short High Yield (NYSEARCA:SJB) was the target of a large decrease in short interest in April. As of April 15th, there was short interest totaling 18,516 shares, a decrease of 96.5% from the March 31st total of 526,639 shares. Based on an average daily volume of 567,529 shares, the days-to-cover ratio is currently 0.0 days. Currently, 0.3% of the company’s shares are sold short.

ProShares Short High Yield Trading Down 0.1%

Shares of SJB traded down $0.01 on Friday, reaching $15.29. The stock had a trading volume of 175,729 shares, compared to its average volume of 361,938. ProShares Short High Yield has a 12-month low of $15.18 and a 12-month high of $16.16. The company has a 50-day simple moving average of $15.40 and a 200-day simple moving average of $15.38.

Institutional Trading of ProShares Short High Yield

Several hedge funds and other institutional investors have recently made changes to their positions in SJB. Trek Financial LLC bought a new stake in ProShares Short High Yield in the third quarter worth $1,908,000. Csenge Advisory Group boosted its holdings in ProShares Short High Yield by 45.1% in the third quarter. Csenge Advisory Group now owns 1,481,348 shares of the company’s stock worth $22,776,000 after acquiring an additional 460,525 shares in the last quarter. Two Sigma Securities LLC bought a new stake in ProShares Short High Yield in the second quarter worth $358,000. BNP Paribas Financial Markets raised its holdings in ProShares Short High Yield by 120.4% in the third quarter. BNP Paribas Financial Markets now owns 19,064 shares of the company’s stock worth $293,000 after buying an additional 10,414 shares during the last quarter. Finally, HRT Financial LP purchased a new position in ProShares Short High Yield in the fourth quarter worth about $235,000.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.