ProShares Ultra Consumer Staples (NYSEARCA:UGE) Sees Significant Drop in Short Interest

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the recipient of a large decline in short interest in the month of August. As of August 31st, there was short interest totaling 3,845 shares, a decline of 36.9% from the August 15th total of 6,089 shares. Currently, 0.6% of the shares of the company are sold short. Based on an average daily volume of 18,515 shares, the short-interest ratio is currently 0.2 days.

ProShares Ultra Consumer Staples Stock Performance

Shares of NYSEARCA:UGE traded down $0.02 during trading hours on Thursday, hitting $18.46. The stock had a trading volume of 8,018 shares, compared to its average volume of 58,496. The stock’s fifty day simple moving average is $19.28 and its 200 day simple moving average is $19.14. 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 $1.66 million, a price-to-earnings ratio of 23.21 and a beta of 1.32.

Institutional Trading of ProShares Ultra Consumer Staples

An institutional investor recently bought a new stake in ProShares Ultra Consumer Staples stock. IMC Chicago LLC bought a new stake in shares of ProShares Ultra Consumer Staples (NYSEARCA:UGE) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 32,634 shares of the company’s stock, valued at approximately $601,000. IMC Chicago LLC owned approximately 4.94% of ProShares Ultra Consumer Staples at the end of the most recent reporting period.

ProShares Ultra Consumer Staples Company Profile

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.