ProShares Ultra Yen (NYSEARCA:YCL) Sees Large Decrease in Short Interest

ProShares Ultra Yen (NYSEARCA:YCL) was the target of a significant drop in short interest in the month of March. As of March 31st, there was short interest totaling 42,572 shares, a drop of 35.6% from the March 15th total of 66,111 shares. Based on an average daily volume of 51,106 shares, the days-to-cover ratio is presently 0.8 days. Approximately 1.7% of the shares of the stock are short sold.

ProShares Ultra Yen Stock Up 0.5%

Shares of NYSEARCA YCL traded up $0.10 during trading on Tuesday, hitting $18.31. The company had a trading volume of 17,095 shares, compared to its average volume of 58,637. The stock has a fifty day simple moving average of $18.73 and a two-hundred day simple moving average of $19.38. ProShares Ultra Yen has a fifty-two week low of $18.00 and a fifty-two week high of $24.90.

Hedge Funds Weigh In On ProShares Ultra Yen

A hedge fund recently raised its stake in ProShares Ultra Yen stock. Jane Street Group LLC lifted its holdings in ProShares Ultra Yen (NYSEARCA:YCL) by 19.0% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,823 shares of the company’s stock after buying an additional 14,660 shares during the period. Jane Street Group LLC owned approximately 3.53% of ProShares Ultra Yen worth $2,010,000 as of its most recent filing with the Securities and Exchange Commission.

About ProShares Ultra Yen

The ProShares Ultra Yen (YCL) is an exchange-traded fund that is based on the Japanese Yen per U.S. Dollar index. The fund provides a 2x multiple to the daily performance of the Japanese yen spot price against the US dollar as measured by Reuters. YCL was launched on Nov 24, 2008 and is managed by ProShares.