ProShares UltraShort Technology (NYSEARCA:REW – Get Free Report) was the target of a large increase in short interest in August. As of August 14th, there was short interest totaling 31,684 shares, an increase of 194.2% from the July 30th total of 10,768 shares. Approximately 11.7% of the shares of the company are short sold. Based on an average trading volume of 34,500 shares, the short-interest ratio is presently 0.9 days.
ProShares UltraShort Technology Stock Performance
REW traded down $0.77 during trading hours on Thursday, hitting $11.21. 26,268 shares of the stock were exchanged, compared to its average volume of 29,032. The stock has a 50-day simple moving average of $12.21 and a 200-day simple moving average of $16.67. ProShares UltraShort Technology has a 12 month low of $10.88 and a 12 month high of $28.88.
Institutional Inflows and Outflows
A hedge fund recently bought a new stake in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new stake in shares of ProShares UltraShort Technology (NYSEARCA:REW – Free Report) in the first quarter, according to the company in 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 about 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.
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.
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