ProShares UltraPro Short MidCap 400 (NYSEARCA:SMDD) Sees Large Drop in Short Interest

ProShares UltraPro Short MidCap 400 (NYSEARCA:SMDD) was the recipient of a significant decrease in short interest in March. As of March 31st, there was short interest totaling 2,913 shares, a decrease of 60.4% from the March 15th total of 7,352 shares. Based on an average trading volume of 21,929 shares, the days-to-cover ratio is presently 0.1 days. Approximately 1.5% of the company’s stock are short sold.

Hedge Funds Weigh In On ProShares UltraPro Short MidCap 400

A hedge fund recently bought a new stake in ProShares UltraPro Short MidCap 400 stock. Jane Street Group LLC bought a new stake in ProShares UltraPro Short MidCap 400 (NYSEARCA:SMDD) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 12,433 shares of the company’s stock, valued at approximately $193,000. Jane Street Group LLC owned about 6.54% of ProShares UltraPro Short MidCap 400 as of its most recent SEC filing.

ProShares UltraPro Short MidCap 400 Stock Performance

Shares of SMDD traded down $0.35 during mid-day trading on Monday, hitting $9.65. 9,122 shares of the company traded hands, compared to its average volume of 19,648. ProShares UltraPro Short MidCap 400 has a 1-year low of $9.37 and a 1-year high of $25.42. The business has a 50 day moving average of $10.65 and a 200 day moving average of $11.84.

ProShares UltraPro Short MidCap 400 Cuts Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were issued a dividend of $0.05 per share. The ex-dividend date was Wednesday, March 25th. This represents a $0.20 annualized dividend and a dividend yield of 2.1%.

ProShares UltraPro Short MidCap 400 Company Profile

ProShares UltraPro Short MidCap400 ETF is an exchange traded fund, which seeks daily investment results, which correspond to triple (300%) the inverse (opposite) of the daily performance of the S&P MidCap 400 Index. The ETF seeks a return of -300% of the return of an index (target) for a single day. The S&P MidCap 400 Index is a used measure of mid-size company United States stock market performance. Companies are selected for inclusion in the Index by Standard & Poor’s based on adequate liquidity, appropriate market capitalization, financial viability and public float.