ProShares UltraShort Technology (NYSEARCA:REW) Stock Short Interest Falls 84.2%

ProShares UltraShort Technology (NYSEARCA:REW) saw a significant drop in short interest in October. As of October 30th, there was short interest totaling 12,019 shares, a drop of 84.2% from the October 15th total of 75,969 shares. Based on an average daily volume of 50,342 shares, the short-interest ratio is currently 0.2 days. Currently, 3.2% of the company’s stock are sold short.

ProShares UltraShort Technology Stock Up 1.0%

ProShares UltraShort Technology stock traded up $0.12 during midday trading on Thursday, hitting $12.62. 39,636 shares of the stock were exchanged, compared to its average volume of 34,371. ProShares UltraShort Technology has a 52-week low of $9.60 and a 52-week high of $27.67. The business’s 50-day moving average price is $11.29 and its 200-day moving average price is $15.46.

ProShares UltraShort Technology’s stock is scheduled to reverse split on the morning of Thursday, November 19th. The 1-2 reverse split was recently announced. The number of shares owned by shareholders will be adjusted after the market closes on Wednesday, November 18th.

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.