ProShares UltraShort Utilities (NYSEARCA:SDP – Get Free Report) saw a large drop in short interest in May. As of May 29th, there was short interest totaling 3,029 shares, a drop of 67.4% from the May 14th total of 9,287 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average trading volume of 3,180 shares, the days-to-cover ratio is currently 1.0 days.
Institutional Trading of ProShares UltraShort Utilities
An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC purchased a new position in ProShares UltraShort Utilities (NYSEARCA:SDP – Free Report) during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned about 45.58% of ProShares UltraShort Utilities at the end of the most recent quarter.
ProShares UltraShort Utilities Trading Up 0.0%
Shares of SDP opened at $23.22 on Thursday. The stock has a 50 day moving average of $21.92 and a 200-day moving average of $22.88. ProShares UltraShort Utilities has a 52 week low of $19.78 and a 52 week high of $29.46.
ProShares UltraShort Utilities Company Profile
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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