ProShares UltraShort Energy (NYSEARCA:DUG) Short Interest Down 43.6% in April

ProShares UltraShort Energy (NYSEARCA:DUG) was the recipient of a significant decrease in short interest during the month of April. As of April 30th, there was short interest totaling 35,558 shares, a decrease of 43.6% from the April 15th total of 63,080 shares. Currently, 3.5% of the company’s stock are sold short. Based on an average daily trading volume, of 99,546 shares, the days-to-cover ratio is currently 0.4 days.

ProShares UltraShort Energy Trading Down 4.6%

ProShares UltraShort Energy stock traded down $0.85 during mid-day trading on Friday, hitting $17.56. 93,655 shares of the company’s stock were exchanged, compared to its average volume of 105,731. ProShares UltraShort Energy has a 1-year low of $15.65 and a 1-year high of $42.18. The stock has a 50 day moving average of $18.75 and a two-hundred day moving average of $25.49.

Hedge Funds Weigh In On ProShares UltraShort Energy

Several hedge funds have recently bought and sold shares of the business. Jane Street Group LLC boosted its holdings in ProShares UltraShort Energy by 10.8% during the fourth quarter. Jane Street Group LLC now owns 8,200 shares of the company’s stock valued at $267,000 after acquiring an additional 800 shares during the period. Tower Research Capital LLC TRC boosted its holdings in ProShares UltraShort Energy by 7,879.8% during the second quarter. Tower Research Capital LLC TRC now owns 29,286 shares of the company’s stock valued at $1,097,000 after acquiring an additional 28,919 shares during the period. Finally, Bank of America Corp DE bought a new stake in ProShares UltraShort Energy during the fourth quarter valued at about $25,000.

About ProShares UltraShort Energy

ProShares UltraShort Oil & Gas (the Fund) seeks daily investment results that correspond to twice the inverse daily performance of the Dow Jones U.S. Oil & Gas Index. The Dow Jones U.S. Oil & Gas Index measures the performance of the oil and gas industry of the United States equity market. Component companies include oil drilling equipment and services, oil companies (major and secondary), pipelines, liquid, solid or gaseous fossil fuel producers and service companies. The Fund takes positions in securities and/or financial instruments that, in combination, should have similar daily return characteristics as -200% of the daily return of the index.