Short Interest in ProShares Short Financials (NYSEARCA:SEF) Rises By 408.4%

ProShares Short Financials (NYSEARCA:SEF) was the recipient of a large growth in short interest in March. As of March 13th, there was short interest totaling 104,434 shares, a growth of 408.4% from the February 26th total of 20,542 shares. Based on an average daily trading volume, of 71,944 shares, the days-to-cover ratio is presently 1.5 days. Currently, 36.0% of the company’s stock are sold short. Currently, 36.0% of the company’s stock are sold short. Based on an average daily trading volume, of 71,944 shares, the days-to-cover ratio is presently 1.5 days.

Institutional Investors Weigh In On ProShares Short Financials

An institutional investor recently bought a new position in ProShares Short Financials stock. Wakefield Asset Management LLLP acquired a new stake in ProShares Short Financials (NYSEARCA:SEF) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 31,248 shares of the company’s stock, valued at approximately $977,000. Wakefield Asset Management LLLP owned 10.78% of ProShares Short Financials as of its most recent SEC filing.

ProShares Short Financials Price Performance

Shares of NYSEARCA SEF traded down $0.11 during trading on Wednesday, reaching $34.13. The stock had a trading volume of 22,260 shares, compared to its average volume of 31,178. ProShares Short Financials has a one year low of $29.77 and a one year high of $40.06. The firm’s 50 day moving average price is $32.56 and its two-hundred day moving average price is $31.94.

ProShares Short Financials Cuts Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be issued a $0.1103 dividend. This represents a $0.44 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Wednesday, March 25th.

About ProShares Short Financials

ProShares Short Financials (the Fund) seeks daily investment results that correspond to the inverse (opposite) of the daily performance of the Dow Jones U.S. Financials Index (the Index). The Index measures the performance of the financial services economic sector of the United States equity market. Component companies include regional banks; United States-domiciled international banks; life and property and casualty insurance companies; companies that invest, directly or indirectly in real estate; diversified financial companies, such as Federal National Mortgage Association (Fannie Mae), credit card insurers, check cashing companies, mortgage lenders and investment advisers; securities brokers and dealers, including investment banks, merchant banks and online brokers, and publicly traded stock exchanges.