ProShares UltraShort Technology (NYSEARCA:REW) Sees Significant Increase in Short Interest

ProShares UltraShort Technology (NYSEARCA:REW) was the recipient of a large growth in short interest in December. As of December 15th, there was short interest totaling 19,835 shares, a growth of 32.5% from the November 30th total of 14,975 shares. Currently, 6.2% of the company’s shares are short sold. Based on an average daily volume of 22,668 shares, the days-to-cover ratio is currently 0.9 days. Based on an average daily volume of 22,668 shares, the days-to-cover ratio is currently 0.9 days. Currently, 6.2% of the company’s shares are short sold.

ProShares UltraShort Technology Price Performance

REW stock traded up $0.06 during mid-day trading on Tuesday, reaching $10.77. 31,585 shares of the stock traded hands, compared to its average volume of 27,682. ProShares UltraShort Technology has a 52-week low of $9.99 and a 52-week high of $34.44. The stock’s fifty day moving average is $11.10 and its 200-day moving average is $12.69.

Institutional Investors Weigh In On 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 ProShares UltraShort Technology (NYSEARCA:REW) in the third quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 17,776 shares of the company’s stock, valued at approximately $105,000. Benchmark Financial Wealth Advisors LLC owned 2.82% of ProShares UltraShort Technology as of its most recent filing with the SEC.

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.