Short Interest in ProShares Short High Yield (NYSEARCA:SJB) Increases By 861.8%

ProShares Short High Yield (NYSEARCA:SJB) saw a large growth in short interest in May. As of May 15th, there was short interest totaling 112,885 shares, a growth of 861.8% from the April 30th total of 11,737 shares. Approximately 1.7% of the shares of the stock are sold short. Based on an average daily trading volume, of 175,643 shares, the days-to-cover ratio is presently 0.6 days.

Hedge Funds Weigh In On ProShares Short High Yield

Several hedge funds and other institutional investors have recently made changes to their positions in SJB. Purpose Unlimited Inc. acquired a new position in shares of ProShares Short High Yield in the 4th quarter valued at approximately $440,000. Two Sigma Securities LLC acquired a new position in ProShares Short High Yield during the 2nd quarter worth approximately $358,000. HRT Financial LP acquired a new position in ProShares Short High Yield during the 4th quarter worth approximately $235,000. IMC Chicago LLC acquired a new position in ProShares Short High Yield during the 4th quarter worth approximately $212,000. Finally, Bravias Capital Group LLC acquired a new position in ProShares Short High Yield during the 1st quarter worth approximately $162,000.

ProShares Short High Yield Stock Performance

Shares of NYSEARCA:SJB opened at $15.31 on Thursday. The firm has a 50 day moving average of $15.39 and a 200-day moving average of $15.37. ProShares Short High Yield has a 12 month low of $15.18 and a 12 month high of $16.00.

About ProShares Short High Yield

The Proshares Short High Yield (SJB) is an exchange-traded fund that is based on the iBoxx USD Liquid High Yield index. The fund provides inverse exposure, reset daily, to a modified market-value-weighted index comprising US-dollar-denominated corporate high-yield bonds with maturities between 3 and 15 years. SJB was launched on Mar 21, 2011 and is managed by ProShares.