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

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a significant drop in short interest in the month of December. As of December 15th, there was short interest totaling 1,711 shares, a drop of 80.9% from the November 30th total of 8,944 shares. Based on an average trading volume of 12,052 shares, the days-to-cover ratio is currently 0.1 days. Approximately 0.3% of the shares of the stock are short sold. Approximately 0.3% of the shares of the stock are short sold. Based on an average trading volume of 12,052 shares, the days-to-cover ratio is currently 0.1 days.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Susquehanna International Group LLP acquired a new stake in ProShares Ultra Consumer Staples in the 3rd quarter valued at about $478,000. Envestnet Asset Management Inc. acquired a new stake in ProShares Ultra Consumer Staples during the second quarter valued at approximately $388,000. Finally, EverSource Wealth Advisors LLC lifted its stake in ProShares Ultra Consumer Staples by 332.4% during the second 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 during the last quarter.

ProShares Ultra Consumer Staples Stock Up 0.8%

UGE traded up $0.13 during trading on Thursday, reaching $16.90. The stock had a trading volume of 7,807 shares, compared to its average volume of 28,158. The stock has a 50 day moving average of $16.88 and a two-hundred day moving average of $17.75. The firm has a market capitalization of $11.32 million, a price-to-earnings ratio of 23.21 and a beta of 1.56. ProShares Ultra Consumer Staples has a 1-year low of $15.74 and a 1-year high of $20.49.

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.