ProShares Ultra Real Estate (NYSEARCA:URE) Short Interest Down 71.6% in May

ProShares Ultra Real Estate (NYSEARCA:URE) was the recipient of a large drop in short interest in the month of May. As of May 29th, there was short interest totaling 480 shares, a drop of 71.6% from the May 14th total of 1,689 shares. Approximately 0.1% of the company’s shares are short sold. Based on an average daily volume of 2,108 shares, the short-interest ratio is currently 0.2 days.

ProShares Ultra Real Estate Price Performance

Shares of NYSEARCA:URE traded up $1.30 during mid-day trading on Friday, reaching $72.40. 5,019 shares of the company were exchanged, compared to its average volume of 3,694. The firm has a market cap of $59.37 million, a price-to-earnings ratio of 35.25 and a beta of 1.93. The firm’s 50-day simple moving average is $68.30 and its 200 day simple moving average is $64.19. ProShares Ultra Real Estate has a 1 year low of $57.38 and a 1 year high of $72.73.

Hedge Funds Weigh In On ProShares Ultra Real Estate

Hedge funds have recently made changes to their positions in the stock. Corient Private Wealth LLC boosted its position in ProShares Ultra Real Estate by 0.7% in the 4th quarter. Corient Private Wealth LLC now owns 23,445 shares of the company’s stock valued at $1,380,000 after buying an additional 153 shares during the period. Kestra Advisory Services LLC purchased a new position in ProShares Ultra Real Estate in the 4th quarter valued at approximately $63,000. Cassaday & Co Wealth Management LLC purchased a new position in ProShares Ultra Real Estate in the 1st quarter valued at approximately $128,000. Finally, Wells Fargo & Company MN boosted its position in 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 buying an additional 3,641 shares during the period.

About ProShares Ultra Real Estate

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.