ProShares Ultra Utilities (NYSEARCA:UPW) Short Interest Update

by · The Markets Daily

ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) was the target of a significant decrease in short interest in August. As of August 31st, there was short interest totaling 6,560 shares, a decrease of 42.5% from the August 15th total of 11,415 shares. Currently, 0.9% of the company’s stock are sold short. Based on an average daily volume of 28,588 shares, the days-to-cover ratio is presently 0.2 days.

Hedge Funds Weigh In On ProShares Ultra Utilities

A hedge fund recently raised its stake in ProShares Ultra Utilities stock. IMC Chicago LLC increased its position in shares of ProShares Ultra Utilities (NYSEARCA:UPW – Free Report) by 13.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,657 shares of the company’s stock after acquiring an additional 3,895 shares during the period. IMC Chicago LLC owned about 3.47% of ProShares Ultra Utilities worth $834,000 as of its most recent filing with the Securities and Exchange Commission.

ProShares Ultra Utilities Stock Performance

Shares of UPW stock traded down $0.07 during trading on Wednesday, hitting $19.50. 7,423 shares of the company were exchanged, compared to its average volume of 21,475. The business’s 50-day simple moving average is $22.34 and its 200 day simple moving average is $23.60. ProShares Ultra Utilities has a twelve month low of $19.44 and a twelve month high of $26.80. The firm has a market capitalization of $975,000.00, a price-to-earnings ratio of 21.21 and a beta of 1.12.

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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