Short Interest in ProShares UltraShort Utilities (NYSEARCA:SDP) Grows By 88.8%

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a significant growth in short interest in December. As of December 15th, there was short interest totaling 13,498 shares, a growth of 88.8% from the November 30th total of 7,151 shares. Approximately 3.3% of the shares of the company are short sold. Based on an average daily volume of 23,937 shares, the days-to-cover ratio is currently 0.6 days. Based on an average daily volume of 23,937 shares, the days-to-cover ratio is currently 0.6 days. Approximately 3.3% of the shares of the company are short sold.

ProShares UltraShort Utilities Price Performance

Shares of NYSEARCA:SDP traded up $0.04 during midday trading on Friday, reaching $12.41. 2,329 shares of the company’s stock were exchanged, compared to its average volume of 17,975. The company’s 50 day simple moving average is $12.00 and its two-hundred day simple moving average is $12.68. ProShares UltraShort Utilities has a 12 month low of $10.61 and a 12 month high of $18.60.

About ProShares UltraShort Utilities

ProShares UltraShort Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the inverse (opposite) of the daily performance of the Dow Jones U.S. Utilities 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.