ProShares Ultra Industrials (NYSEARCA:UXI) Sees Large Decline in Short Interest

ProShares Ultra Industrials (NYSEARCA:UXI) was the recipient of a significant drop in short interest in December. As of December 15th, there was short interest totaling 5,671 shares, a drop of 90.3% from the November 30th total of 58,363 shares. Based on an average daily trading volume, of 10,608 shares, the days-to-cover ratio is presently 0.5 days. Approximately 1.0% of the company’s shares are short sold. Approximately 1.0% of the company’s shares are short sold. Based on an average daily trading volume, of 10,608 shares, the days-to-cover ratio is presently 0.5 days.

Institutional Investors Weigh In On ProShares Ultra Industrials

A number of hedge funds have recently modified their holdings of the company. Envestnet Asset Management Inc. purchased a new position in ProShares Ultra Industrials during the second quarter worth about $443,000. SteelPeak Wealth LLC purchased a new stake in shares of ProShares Ultra Industrials in the 2nd quarter valued at approximately $207,000. Finally, IMC Chicago LLC increased its holdings in shares of ProShares Ultra Industrials by 52.6% during the 3rd quarter. IMC Chicago LLC now owns 36,954 shares of the company’s stock worth $1,717,000 after buying an additional 12,731 shares during the last quarter.

ProShares Ultra Industrials Trading Up 0.5%

NYSEARCA:UXI traded up $0.23 during trading hours on Wednesday, hitting $47.84. The company had a trading volume of 1,661 shares, compared to its average volume of 3,958. ProShares Ultra Industrials has a 1 year low of $24.87 and a 1 year high of $48.19. The company has a market cap of $26.79 million, a P/E ratio of 24.50 and a beta of 2.23. The company has a 50-day moving average of $45.69 and a 200 day moving average of $44.88.

About ProShares Ultra Industrials

ProShares Ultra Industrials (the Fund) seeks daily investment results that correspond to twice the daily performance of the Dow Jones United States Industrials Index. The Dow Jones United States Industrials Index measures the performance of the industrial industry of the United States equity market. Component companies include building materials, heavy construction, factory equipment, heavy machinery, industrial services, pollution control, containers and packaging, industrial diversified, air freight, marine transportation, railroads, trucking, land-transportation equipment, shipbuilding, transportation services, advanced industrial equipment, electric components and equipment, and aerospace.