Short Interest in ProShares Ultra Utilities (NYSEARCA:UPW) Drops By 41.4%

by · The Cerbat Gem

ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the target of a large drop in short interest during the month of May. As of May 15th, there was short interest totaling 6,815 shares, a drop of 41.4% from the April 30th total of 11,622 shares. Approximately 0.7% of the shares of the company are short sold. Based on an average daily volume of 13,762 shares, the short-interest ratio is currently 0.5 days.

ProShares Ultra Utilities Trading Down 5.6%

Shares of NYSEARCA UPW opened at $21.59 on Tuesday. The company has a market cap of $20.94 million, a price-to-earnings ratio of 21.21 and a beta of 1.21. ProShares Ultra Utilities has a 12-month low of $19.21 and a 12-month high of $26.80. The stock’s 50 day simple moving average is $24.28 and its 200 day simple moving average is $23.61.

Institutional Trading of ProShares Ultra Utilities

Hedge funds have recently made changes to their positions in the stock. Garton & Associates Financial Advisors LLC bought a new stake in shares of ProShares Ultra Utilities in the 4th quarter worth approximately $26,000. Osaic Holdings Inc. increased its position in ProShares Ultra Utilities by 278.1% in the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after acquiring an additional 20,578 shares during the period. Finally, IMC Chicago LLC acquired a new stake in ProShares Ultra Utilities in the 4th quarter valued at approximately $646,000.

About ProShares Ultra Utilities

(Get Free Report)

ProShares Ultra Utilities (the Fund) seeks daily investment results that correspond to twice (200%) 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, under normal circumstances, to equity securities contained in the Index and/or financial instruments that, in combination, have similar economic characteristics. The Fund also intends to invest assets not invested in financial instruments, in debt instruments and/or money market instruments.

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