ProShares UltraShort Technology (NYSEARCA:REW) Short Interest Down 77.3% in May

ProShares UltraShort Technology (NYSEARCA:REW) was the recipient of a significant decline in short interest during the month of May. As of May 15th, there was short interest totaling 9,271 shares, a decline of 77.3% from the April 30th total of 40,775 shares. Currently, 2.2% of the shares of the stock are sold short. Based on an average trading volume of 38,502 shares, the short-interest ratio is currently 0.2 days.

Hedge Funds Weigh In On ProShares UltraShort Technology

An institutional investor recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new position in shares of ProShares UltraShort Technology (NYSEARCA:REW) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned approximately 2.34% of ProShares UltraShort Technology as of its most recent filing with the Securities & Exchange Commission.

ProShares UltraShort Technology Stock Performance

Shares of NYSEARCA:REW traded down $0.57 during trading on Friday, reaching $11.90. The stock had a trading volume of 8,471 shares, compared to its average volume of 26,306. The business has a fifty day moving average price of $18.82 and a 200-day moving average price of $21.17. ProShares UltraShort Technology has a 1-year low of $11.87 and a 1-year high of $36.88.

ProShares UltraShort Technology Company Profile

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.