ProShares UltraShort Yen (NYSEARCA:YCS) Trading Down 2.1% – Here’s Why

ProShares UltraShort Yen (NYSEARCA:YCS) shares dropped 2.1% during mid-day trading on Monday . The company traded as low as $38.89 and last traded at $39.04. Approximately 15,844 shares changed hands during mid-day trading, a decline of 41% from the average daily volume of 26,685 shares. The stock had previously closed at $39.86.

ProShares UltraShort Yen Stock Down 2.1 %

The company has a fifty day moving average of $43.06 and a 200 day moving average of $44.80.

Hedge Funds Weigh In On ProShares UltraShort Yen

An institutional investor recently raised its position in ProShares UltraShort Yen stock. Nkcfo LLC boosted its position in ProShares UltraShort Yen (NYSEARCA:YCS) by 100.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 102,500 shares of the company’s stock after buying an additional 51,250 shares during the period. ProShares UltraShort Yen makes up approximately 2.1% of Nkcfo LLC’s portfolio, making the stock its 11th biggest position. Nkcfo LLC owned approximately 22.85% of ProShares UltraShort Yen worth $4,785,000 at the end of the most recent reporting period.

About ProShares UltraShort Yen

The ProShares UltraShort Yen (YCS) is an exchange-traded fund that is based on the Japanese Yen per U.S. Dollar index. The fund provides a 2x inverse multiple to the daily performance of the Japanese yen spot price against the US dollar as measured by Reuters. YCS was launched on Nov 25, 2008 and is managed by ProShares.