Short Interest in ProShares Ultra Consumer Staples (NYSEARCA:UGE) Drops By 56.6%

ProShares Ultra Consumer Staples (NYSEARCA:UGE) saw a large decrease in short interest in the month of August. As of August 14th, there was short interest totaling 6,089 shares, a decrease of 56.6% from the July 30th total of 14,026 shares. Currently, 1.0% of the shares of the stock are sold short. Based on an average trading volume of 24,670 shares, the short-interest ratio is presently 0.2 days.

ProShares Ultra Consumer Staples Stock Down 1.1%

Shares of ProShares Ultra Consumer Staples stock traded down $0.22 during midday trading on Monday, hitting $19.23. The company’s stock had a trading volume of 4,682 shares, compared to its average volume of 59,185. ProShares Ultra Consumer Staples has a 1-year low of $15.74 and a 1-year high of $22.26. The firm has a market capitalization of $11.92 million, a P/E ratio of 23.21 and a beta of 1.32. The stock has a 50-day simple moving average of $19.35 and a 200-day simple moving average of $19.38.

Institutional Trading of ProShares Ultra Consumer Staples

A number of institutional investors have recently added to or reduced their stakes in the business. EverSource Wealth Advisors LLC raised its holdings in shares of ProShares Ultra Consumer Staples by 332.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock valued at $147,000 after purchasing an additional 6,100 shares in the last quarter. Susquehanna International Group LLP acquired a new position in ProShares Ultra Consumer Staples during the third quarter worth $478,000. Finally, IMC Chicago LLC bought a new position in ProShares Ultra Consumer Staples during the first quarter valued at about $601,000.

About ProShares Ultra Consumer Staples

ProShares Ultra Consumer Goods (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Consumer Goods 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.