ProShares Ultra Consumer Staples (NYSEARCA:UGE) Short Interest Down 66.3% in March

ProShares Ultra Consumer Staples (NYSEARCA:UGE) was the target of a large decline in short interest in March. As of March 13th, there was short interest totaling 23,145 shares, a decline of 66.3% from the February 26th total of 68,724 shares. Currently, 3.9% of the company’s stock are short sold. Based on an average trading volume of 89,070 shares, the days-to-cover ratio is currently 0.3 days.

ProShares Ultra Consumer Staples Trading Down 0.9%

Shares of UGE stock traded down $0.16 during midday trading on Thursday, reaching $18.06. 48,447 shares of the stock were exchanged, compared to its average volume of 67,296. 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 cap of $10.84 million, a PE ratio of 23.21 and a beta of 1.56. The company’s 50 day moving average is $20.02 and its two-hundred day moving average is $18.10.

ProShares Ultra Consumer Staples Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Investors of record on Wednesday, March 25th will be given a dividend of $0.0581 per share. The ex-dividend date is Wednesday, March 25th. This represents a $0.23 annualized dividend and a dividend yield of 1.3%.

Hedge Funds Weigh In On ProShares Ultra Consumer Staples

Institutional investors have recently added to or reduced their stakes in the company. Susquehanna International Group LLP purchased a new position in ProShares Ultra Consumer Staples during the third quarter valued at $478,000. Envestnet Asset Management Inc. purchased a new stake in shares of ProShares Ultra Consumer Staples in the 2nd quarter worth about $388,000. Finally, EverSource Wealth Advisors LLC increased its stake in shares of ProShares Ultra Consumer Staples by 332.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 7,935 shares of the company’s stock worth $147,000 after acquiring an additional 6,100 shares in the last quarter.

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.