ProShares UltraShort Health Care (NYSEARCA:RXD) Sees Large Drop in Short Interest

ProShares UltraShort Health Care (NYSEARCA:RXD) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 3,577 shares, a decline of 96.7% from the April 30th total of 107,766 shares. Currently, 0.7% of the company’s shares are short sold. Based on an average daily volume of 9,957 shares, the days-to-cover ratio is presently 0.4 days.

ProShares UltraShort Health Care Stock Performance

RXD stock remained flat at $9.88 during mid-day trading on Wednesday. The company’s stock had a trading volume of 2,244 shares, compared to its average volume of 15,934. The business’s 50 day moving average price is $10.17 and its 200 day moving average price is $9.48. ProShares UltraShort Health Care has a 1-year low of $8.46 and a 1-year high of $13.57.

ProShares UltraShort Health Care shares are going to reverse split before the market opens on Thursday, May 28th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the closing bell on Wednesday, May 27th.

Institutional Trading of ProShares UltraShort Health Care

An institutional investor recently bought a new position in ProShares UltraShort Health Care stock. IMC Chicago LLC acquired a new position in shares of ProShares UltraShort Health Care (NYSEARCA:RXD) in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm acquired 20,581 shares of the company’s stock, valued at approximately $209,000. IMC Chicago LLC owned 4.29% of ProShares UltraShort Health Care as of its most recent SEC filing.

ProShares UltraShort Health Care Company Profile

ProShares UltraShort Health Care (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Health Care Index (the Index). The Fund intends to invest at least 80% of its net assets, including any borrowings for investment purposes, to investments that, in combination, have economic characteristics that are inverse to those of the Index. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.