ProShares UltraShort Technology (NYSEARCA:REW) Sees Large Increase in Short Interest

ProShares UltraShort Technology (NYSEARCA:REW) saw a large growth in short interest during the month of June. As of June 30th, there was short interest totaling 2,957 shares, a growth of 173.5% from the June 15th total of 1,081 shares. Based on an average daily volume of 22,293 shares, the short-interest ratio is currently 0.1 days. Currently, 1.2% of the shares of the company are short sold.

ProShares UltraShort Technology Stock Up 4.6%

Shares of NYSEARCA:REW opened at $12.42 on Tuesday. The company has a 50-day simple moving average of $12.80 and a 200-day simple moving average of $18.81. ProShares UltraShort Technology has a one year low of $11.03 and a one year high of $29.48.

Hedge Funds Weigh In On ProShares UltraShort Technology

A hedge fund recently bought a new position in ProShares UltraShort Technology stock. CPR Investments Inc. acquired a new stake in shares of ProShares UltraShort Technology (NYSEARCA:REW) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 10,075 shares of the company’s stock, valued at approximately $126,000. CPR Investments Inc. owned about 2.34% of ProShares UltraShort Technology as of its most recent SEC filing.

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.