ProShares UltraShort Technology (NYSEARCA:REW) Short Interest Down 93.4% in April

ProShares UltraShort Technology (NYSEARCA:REW) was the target of a large drop in short interest during the month of April. As of April 15th, there was short interest totaling 2,655 shares, a drop of 93.4% from the March 31st total of 39,979 shares. Based on an average daily volume of 68,050 shares, the short-interest ratio is currently 0.0 days. Currently, 0.6% of the company’s shares are sold short.

Institutional Trading of ProShares UltraShort Technology

A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. Benchmark Financial Wealth Advisors LLC acquired a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm acquired 17,776 shares of the company’s stock, valued at approximately $105,000. Benchmark Financial Wealth Advisors LLC owned about 2.82% of ProShares UltraShort Technology at the end of the most recent reporting period.

ProShares UltraShort Technology Trading Down 5.6%

NYSEARCA REW traded down $0.51 on Friday, reaching $8.56. The company had a trading volume of 33,664 shares, compared to its average volume of 55,291. The stock’s 50 day moving average is $11.30 and its 200-day moving average is $11.17. ProShares UltraShort Technology has a 52 week low of $8.55 and a 52 week high of $23.04.

ProShares UltraShort Technology Company Profile

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.