ProShares Ultra Utilities (NYSEARCA:UPW – Get Free Report) saw a large decline in short interest in the month of May. As of May 15th, there was short interest totaling 6,815 shares, a decline of 41.4% from the April 30th total of 11,622 shares. Approximately 0.7% of the shares of the company are sold short. Based on an average trading volume of 13,762 shares, the days-to-cover ratio is currently 0.5 days.
ProShares Ultra Utilities Trading Down 0.6%
Shares of NYSEARCA:UPW opened at $22.18 on Thursday. The stock has a 50 day moving average of $24.23 and a 200 day moving average of $23.59. The company has a market cap of $21.51 million, a PE ratio of 21.21 and a beta of 1.21. ProShares Ultra Utilities has a 12-month low of $19.21 and a 12-month high of $26.80.
Institutional Inflows and Outflows
A number of hedge funds have recently made changes to their positions in UPW. Garton & Associates Financial Advisors LLC bought a new position in shares of ProShares Ultra Utilities during the 4th quarter valued at approximately $26,000. Osaic Holdings Inc. grew its stake in shares of ProShares Ultra Utilities by 278.1% during the 4th quarter. Osaic Holdings Inc. now owns 27,977 shares of the company’s stock valued at $608,000 after acquiring an additional 20,578 shares during the period. Finally, IMC Chicago LLC bought a new position in shares of ProShares Ultra Utilities during the 4th quarter valued at approximately $646,000.
ProShares Ultra Utilities Company Profile
ProShares Ultra Utilities (the Fund) seeks daily investment results that correspond to twice (200%) the daily performance of the Dow Jones U.S. Utilities 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.
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