Short Interest in ProShares Ultra Real Estate (NYSEARCA:URE) Drops By 19.1%

ProShares Ultra Real Estate (NYSEARCA:URE) was the target of a significant decline in short interest in March. As of March 13th, there was short interest totaling 4,090 shares, a decline of 19.1% from the February 26th total of 5,053 shares. Approximately 0.4% of the shares of the stock are short sold. Based on an average daily volume of 2,599 shares, the days-to-cover ratio is presently 1.6 days.

ProShares Ultra Real Estate Trading Up 2.9%

ProShares Ultra Real Estate stock traded up $1.67 during trading hours on Tuesday, reaching $59.50. 951 shares of the stock were exchanged, compared to its average volume of 3,594. The company has a market cap of $54.15 million, a P/E ratio of 35.25 and a beta of 2.00. ProShares Ultra Real Estate has a twelve month low of $49.03 and a twelve month high of $69.14. The stock has a 50 day moving average of $63.69 and a two-hundred day moving average of $62.19.

ProShares Ultra Real Estate Cuts Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, March 31st. Stockholders of record on Wednesday, March 25th will be issued a dividend of $0.2054 per share. This represents a $0.82 dividend on an annualized basis and a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, March 25th.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in URE. Corient Private Wealth LLC raised its position in ProShares Ultra Real Estate by 0.7% during the fourth quarter. Corient Private Wealth LLC now owns 23,445 shares of the company’s stock valued at $1,380,000 after purchasing an additional 153 shares in the last quarter. CWM LLC bought a new position in shares of ProShares Ultra Real Estate in the 3rd quarter valued at $806,000. Wells Fargo & Company MN increased its stake in shares of ProShares Ultra Real Estate by 364,100.0% in the 4th quarter. Wells Fargo & Company MN now owns 3,642 shares of the company’s stock valued at $214,000 after purchasing an additional 3,641 shares during the last quarter. Finally, Kestra Advisory Services LLC acquired a new position in shares of ProShares Ultra Real Estate during the 4th quarter worth $63,000.

ProShares Ultra Real Estate Company Profile

ProShares Ultra Real Estate (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Real Estate Index (the Index). The Index measures the performance of the real estate sector of the United States equity market. Component companies include those that invest directly or indirectly through development, management or ownership of shopping malls, apartment buildings and housing developments, and real estate investment trusts (REITs) that invest in apartments, office and retail properties.