Short Interest in ProShares UltraShort Utilities (NYSEARCA:SDP) Declines By 67.4%

ProShares UltraShort Utilities (NYSEARCA:SDP) was the target of a large drop in short interest during the month of May. As of May 29th, there was short interest totaling 3,029 shares, a drop of 67.4% from the May 14th total of 9,287 shares. Approximately 1.4% of the shares of the company are short sold. Based on an average daily volume of 3,180 shares, the short-interest ratio is currently 1.0 days.

ProShares UltraShort Utilities Price Performance

Shares of NYSEARCA SDP opened at $23.22 on Thursday. ProShares UltraShort Utilities has a 12-month low of $19.78 and a 12-month high of $29.46. The stock’s 50 day simple moving average is $21.92 and its 200 day simple moving average is $22.88.

Institutional Trading of ProShares UltraShort Utilities

An institutional investor recently bought a new position in ProShares UltraShort Utilities stock. IMC Chicago LLC bought a new stake in shares of ProShares UltraShort Utilities (NYSEARCA:SDP) during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund bought 86,608 shares of the company’s stock, valued at approximately $1,080,000. IMC Chicago LLC owned approximately 45.58% of ProShares UltraShort Utilities at the end of the most recent reporting period.

ProShares UltraShort Utilities Company Profile

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.