ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) Sees Significant Decline in Short Interest

ProShares Ultra Nasdaq Cloud Computing ETF (NASDAQ:SKYU) saw a large decline in short interest in April. As of April 30th, there was short interest totaling 3,007 shares, a decline of 41.1% from the April 15th total of 5,108 shares. Based on an average daily volume of 2,473 shares, the short-interest ratio is presently 1.2 days. Currently, 3.3% of the shares of the stock are sold short.

ProShares Ultra Nasdaq Cloud Computing ETF Stock Performance

Shares of NASDAQ:SKYU traded up $0.37 on Monday, hitting $34.18. The stock had a trading volume of 1,834 shares, compared to its average volume of 2,324. ProShares Ultra Nasdaq Cloud Computing ETF has a twelve month low of $22.55 and a twelve month high of $45.55. The firm’s 50 day moving average price is $28.03 and its 200-day moving average price is $32.34. The company has a market capitalization of $3.08 million, a price-to-earnings ratio of 29.23 and a beta of 2.39.

ProShares Ultra Nasdaq Cloud Computing ETF Cuts Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th were paid a $0.0574 dividend. This represents a $0.23 annualized dividend and a dividend yield of 0.7%. The ex-dividend date was Wednesday, March 25th.

About ProShares Ultra Nasdaq Cloud Computing ETF

The ProShares Ultra Cloud Computing (SKYU) is an exchange-traded fund that is based on the ISE Cloud Computing index. The fund provides 2x leveraged exposure to a modified-equally-weighted index of US companies in the cloud computing industry. SKYU was launched on Jan 19, 2021 and is managed by ProShares.